35 slides from Vietnam Technological & Commercial Joint Stock Bank's earnings presentation, Jan 21, 2026
Slide 1: Techcombank FY25 Earnings Call
Techcombank FY25 Earnings Call Hanoi, Jan 21, 2026 1
Slide 2: Highlights, Economic Update, Financial Results, 2026 Outlook
Section Section 01 Highlights 02 Economic Update Section Section 03 Financial Results 04 2026 Outlook 2
Slide 3: Highlights
FY25 Earnings Call Section 01 Highlights 3
Slide 4: Driving Consistent Execution and Accelerating Growth Trajectory
01 Highlights Driving Consistent Execution and Accelerating Growth Trajectory Historic Q4 profit propelling us beyond annual targets Unmatched balance sheet resilience 4Q25 FY25 18.4% YoY Credit growth1 TOI (VND) 14.8 Tn 53.4 Tn vs. 20.8% in FY24 127.9% Coverage ratio TOI YoY growth 54.8% 13.6% Asse
Slide 5: Economic Update
FY25 Earnings Call Section 02 Economic Update 5
Slide 6: Macroeconomic and Industry Updates
Macroeconomic and Industry Updates 02 Economic Update GDP grew by 8.02%, the second highest growth in the 2011– 2025 Credit growth hit record high and outstripped deposit 2025 period, driven mainly by services and industrial production growth, creating liquidity pressure in banking system 8.46% 19.0
Slide 7: Financial Results
FY25 Earnings Call Section 03 Financial Results 7
Slide 8: Strong Fundamentals Driving Steady Double-Digit Earnings Expansion
03 Financial Results Strong Fundamentals Driving Steady Double-Digit Earnings Expansion ▪ 4Q25 TOI and PBT grew 54.8% YoY and 94.9% YoY respectively, driven by robust growth in net interest income and net fee income, as well as non-repeat of the one-off banca termination fee in 4Q24 ▪ Profitability
Slide 9: Wealth Bank: Sustained Record Growth and Deeper Market Penetration
Financial Results Wealth Bank: Sustained Record Growth and Deeper Market Penetration ▪ 4Q25 saw accelerating expansion in AUM and customer base, supported by a robust and diversified product suite ▪ Securities and asset management business delivered stellar growth, with margin lending continuing to
Slide 10: Stable Balance Sheet Growth Powered by Strong Credit Dynamics
Stable Balance Sheet Growth Powered by Strong Credit Dynamics 03 Financial Results ▪ Mobilizing from customers increased 20.7% YoY, outstripping the growth in Interest earning assets of 20.0% YoY ▪ NIM (LTM) remained solid at 3.8%, reflecting effective absorption of rising funding costs amid a compe
Slide 11: Resilient Credit Growth Strength Across FY25
03 Financial Results Resilient Credit Growth Strength Across FY25 ▪ Consolidated credit expanded 21% YoY, driven by broad-based disbursements across retail and corporate portfolios ▪ Growth was balanced between short-term and medium and long-term loans, showing prudent management of maturity structu
Slide 12: Significant Advancement in Credit Portfolio Diversification
03 Financial Results Significant Advancement in Credit Portfolio Diversification ▪ The Bank continued its portfolio diversification, with real-estate exposure reducing to 31% of the total credit book, down from 33% in 4Q24 ▪ Retail credit grew at a significantly faster pace than the corporate portfo
Slide 13: Record High Mortgage Disbursement Amid Strong Real Estate Recovery
Record High Mortgage Disbursement Amid Strong Real Estate Recovery 03 Financial Results Condominium Market in 4Q251 Techcombank Mortgage Prepayment & Disbursement (VND Tn) Hanoi Absorption rate New supply Sold units Pre-payment (VND Tn) 40,000 24.1 22.0 19.1 17.0 104.2% 110.2% 109.8% 99.0% 15.1 15.5
Slide 14: Top-Tier Funding Base Underpinned by Strong & Scalable CASA Capabilities
Top-Tier Funding Base Underpinned by Strong & Scalable CASA Capabilities 03 Financial Results ▪ CASA ratio continued to lead the industry, driven by strong momentum in both retail and corporate segments ▪ Techcombank has consistently maintained the No. 1 market share on NAPAS 24/7 for both inbound a
Slide 15: Elevating Techcombank's Dominance in Fee-Based Revenue Streams
Elevating Techcombank’s Dominance in Fee-Based Revenue Streams 03 Financial Results ▪ Fee income increased 31.6% YoY in 4Q25, including the impact in 4Q24 of the termination of the previous banca distribution partnership ▪ FY momentum in bancassurance, IB and FX sales was strong and helped offset th
Slide 16: CIR Sustained at ~30%, Reflecting Strong Efficiency Cost Management
CIR Sustained at ~30%, Reflecting Strong Efficiency Cost Management 03 Financial Results ▪ Continued cost efficiency and operational discipline helped maintain FY25 CIR at 30.8% ▪ Total OPEX for the year increased by 6.9% YoY, primarily driven by the Bank’s continued investments in IT infrastructure
Slide 17: Sound Asset Quality Metrics In Line With Conservative Risk Appetite
03 Financial Results Sound Asset Quality Metrics In Line With Conservative Risk Appetite ▪ NPL improved to 1.13% from 1.23% in 3Q25, while organic NPL maintained stable at ~0.98% ▪ Credit cost (net of recoveries) remained low at 0.4%, below the industry average ▪ Coverage ratio reached 128%, showing
Slide 18: Credit Cost Deep-dive
03 Financial Results Credit Cost Deep-dive B2 CIC impacts ▪ Slowdown in new B2 formation with a 23.5% QoQ reduction 82 Own book ▪ NPL balance declined by 8.0% QoQ reflecting industry-leading 2,007 7 469 asset quality and robust risk management 74 (940) 60 1,539 (457) 4,542 (1,397) (950) 543 696 3,85
Slide 19: Healthy Capital Levels & Solid Liquidity Enable Ongoing Sustainable Expansion
03 Financial Results Healthy Capital Levels & Solid Liquidity Enable Ongoing Sustainable Expansion ▪ CAR in Q4 remained among the highest in the industry at 14.6%, despite the ~VND 7 trillion cash dividend paid in October ▪ LDR improved to 76.5%, highlighting our continued focus on maintaining stron
Slide 20: Differentiated Operating Metrics Relative to Peers
TCB 03 Financial Results Differentiated Operating Metrics Relative to Peers Industry median1 CASA CIR (LTM) 37% 40% 42% 39% 39% 41% 39% 41% 43% 40% 37% 38% 38% 38% 32% 35% 34% 34% 34% 34% 34% 35% 34% 33% 35% 35% 16% 14% 14% 17% 17% 15% 18% 17% 17% 16% 16% 16% 34% 34% 32% 33% 33% 33% 33% 33% 31% 31%
Slide 21: 2026 Outlook
FY25 Earnings Call Section 04 2026 Outlook 21
Slide 22: GDP growth forecast of 8.0% for FY26
04 FY26 Outlook GDP growth forecast of 8.0% for FY26 Real Vietnam & World GDP (Real GDP growth indexed to 100% in 2019, YoY growth each year) Key drivers for FY26 GDP growth of 8.0%: Vietnam ▪ Enhanced fiscal policy, with planned public investment 8.0 % disbursement in 2026 up 42% YoY (VND 1.12 quad
Slide 23: FY26: Strongly Positioned to Leverage Economic Trends
FY26: Strongly Positioned to Leverage Economic Trends 04 FY26 Outlook FY24 FY25 FY26 Improved Unchanged Deteriorated Indicators Actual Actual Outlook1 Commentary Credit growth2 A strong quota is expected (given business performance and asset quality), 20.8 18.4 Quota although it will ultimately depe
Slide 24: 2026: Navigating an Increasingly Challenging Operating Environment
04 FY2026 Outlook 2026: Navigating an Increasingly Challenging Operating Environment Banking sector headwinds still persist Implications for Techcombank Tight liquidity with elevated system-wide LDR Diversify credit portfolio 107 104 Banking 98 100 99 sector LDR1 92 Diversify TCB credit portfolio fo
Slide 25: Thank you.
FY25 Earnings Call Thank you. C o n t acts Techcombank Hanoi Head Office 06 Quang Trung str., Cua Nam wd., Hanoi ir@techcombank.com.vn
Slide 26: Appendix
FY25 Earnings Call Appendix 26
Slide 27: 4Q25 – Asset book health
00 Appendix 4Q25 – Asset book health ▪ Average LTV reduced to 44.7%, in line with the Bank’s risk appetite ▪ Interest receivables/IEA maintained at ~1.0% Average LTV for secured loans (%) Interest receivables/IEA (%) 49.9% 51.2% 49.9% 0.99% 0.98% 0.95% 45.3% 44.7% 0.88% 0.90% 4Q24 1Q25 2Q25 3Q25 4Q2
Slide 28: Digital platform continues to be dominant channel
00 Appendix Digital platform continues to be dominant channel ▪ Share of e-banking transaction continued to be at high level ▪ Strong increases in both inbound and outbound Napas247 transaction volume and value, maintaining #1 position in the market Number of Retail E-banking customers1 (Mn, EOP) Sh
Slide 29: TCB FY25 Financial Highlights (1/3)
00 Appendix TCB FY25 Financial Highlights (1/3) FY25 vs 4Q25 vs 4Q25 vs Balance Sheet Unit: 4Q24 1Q25 2Q25 3Q25 4Q25 FY24 FY25 FY24 3Q25 4Q24 Total assets VND bn 978,799 989,216 1,037,645 1,129,570 1,192,344 978,799 1,192,344 21.8% 5.6% 21.8% Deposits from customers VND bn 564,536 569,855 589,078 63
Slide 30: TCB FY25 Financial Highlights (2/3)
00 Appendix TCB FY25 Financial Highlights (2/3) FY25 vs 4Q25 vs 4Q25 vs Balance Sheet - Segmentation Unit: 4Q24 1Q25 2Q25 3Q25 4Q25 FY24 FY25 FY24 3Q25 4Q24 Loans to customers VND bn 631,725 663,693 710,313 766,710 767,617 631,725 767,617 21.5% 0.1% 21.5% Retail VND bn 258,534 264,884 282,166 300,21
Slide 31: TCB FY25 Financial Highlights (3/3)
00 Appendix TCB FY25 Financial Highlights (3/3) FY25 vs 4Q25 vs 4Q25 vs NFI - Segmentation Unit: 4Q24 1Q25 2Q25 3Q25 4Q25 FY24 FY25 FY24 3Q25 4Q24 Bond business Bond issuance value VND bn 35,126 7,000 25,500 21,384 32,008 74,566 85,892 15.2% 49.7% -8.9% Bond distribution value VND bn 33,266 20,747 2
Slide 32: Financial metrics formula
00 Appendix Financial metrics formula Indicators Formula 𝑃𝑟𝑜𝑣𝑖𝑠𝑖𝑜𝑛 𝑟𝑒𝑠𝑒𝑟𝑣𝑒𝑠 𝑓𝑜𝑟 𝑙𝑜𝑎𝑛𝑠 𝑡𝑜 𝑐𝑢𝑠𝑡𝑜𝑚𝑒𝑟𝑠 ▪ Excluding provision reserves for margin lending NPL coverage ratio ▪ NPL balance excludes margin lending 𝑁𝑃𝐿 𝑏𝑎𝑙𝑎𝑛𝑐𝑒 𝐷𝑒𝑚𝑎𝑛𝑑 𝑑𝑒𝑝𝑜𝑠𝑖𝑡𝑠 +…
Slide 33: Financial metrics formula
00 Appendix Financial metrics formula Indicators Formula 𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑖𝑛𝑐𝑜𝑚𝑒 𝑓𝑜𝑟 𝑡ℎ𝑒 𝑞𝑢𝑎𝑟𝑡𝑒𝑟 ∗ 4 ▪ Interest earning assets comprise: Balance Asset yields with SBV, Balance at credit institutions, loans 𝐴𝑣𝑒𝑟𝑎𝑔𝑒 𝑑𝑎𝑖𝑙𝑦 𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑒𝑎𝑟𝑛𝑖𝑛𝑔 𝑎𝑠𝑠𝑒𝑡𝑠 to…
Slide 34: Glossary
00 Appendix Glossary 1Q, 2Q, 3Q, 4Q Quarter 1, 2, 3, 4 : AUM Assets under management OTT : Overseas telegraphic transfer CAGR : Compounded Annual Growth Rate PAT : Profit after tax CAR : Capital Adequacy Ratio PBT : Profit before tax CASA : Current Accounts and Saving Accounts PMI : Purchasing Manag
Slide 35: Disclaimer
Disclaimer The information in this presentation is being provided as a historical, reference source only and is not being used for, and nothing in this presentation constitutes an offer, invitation or recommendation to sell or issue, or any solicitation of any offer to purchase or subscribe for, sec