Vietnam Technological and Commercial Joint Stock Bank (TCB) investor relations material

Executive summary

• Delivered strong Q1 2026 results amid macroeconomic volatility, with profit before tax up 23% YoY and net profit after tax reaching VND 6,950 billion, up 15.6% YoY, driven by higher net interest and fee income, and lower provision expenses.

• Maintained market-leading balance sheet strength, with high capital adequacy and strong loan loss coverage.

• Digital banking and wealth management remain strategic pillars, with digital customers up 23% YoY and AUM up 74% YoY.

• Total assets stood at VND 1,190,454 billion as of 31 March 2026, slightly down from year-end 2025.

• Loans to customers increased to VND 796,864 billion, while customer deposits decreased to VND 599,808 billion.

Financial highlights

• Profit before tax reached VND 8.9 trillion (+23% YoY); NII grew 15% YoY despite NIM compression.

• Fee income surged 47% YoY, driven by insurance and FX; cost-to-income ratio improved to 28%.

• Net interest income rose to VND 9,522 billion, up from VND 8,305 billion YoY; net fee and commission income increased to VND 3,148 billion.

• Provision expenses for credit losses decreased to VND 935 billion from VND 1,090 billion.

• NPL ratio edged up slightly to 1.16%, with loan loss coverage at 129%.

Outlook and guidance

• 2026 GDP growth forecast revised to 7% (from 7.8%), with base case credit growth for the sector at 16%.

• Full-year NIM expected around 3.6%-3.7%, with profit before tax guidance of at least VND 37.5 trillion (+15% YoY).

• The bank continues to focus on credit growth, risk management, and digital transformation.

• Cost of risk and NPLs expected to remain stable, with NPLs below 1.5%.

• Loan classification retention policies remain in place to support customers facing financial difficulties.