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

Executive summary

• Achieved record Q2 profit before tax of VND 9.7 trillion, up 22.4% YoY, and VND 18.5 trillion for H1 2026, up 22.5% YoY, driven by robust revenue growth, lower credit provisions, and disciplined risk management.

• Consolidated profit after tax for H1 2026 increased by 18.73% YoY, supported by higher net interest and fee income, despite lower trading gains and higher operating expenses.

• Strong balance sheet with total assets at VND 1,273,077 billion, industry-leading capital adequacy ratio at 15%, and solid asset quality.

• Sustained earnings momentum from diversified revenue streams, digital banking, and wealth management.

Financial highlights

• Net interest income grew 16.3% YoY in H1 2026, with net fee and commission income up to VND 6,811 billion from VND 3,935 billion YoY.

• Non-interest income surged 37.6% YoY, with strong fee income across investment banking, insurance, and transaction banking.

• Cost-to-income ratio improved to 29.7% for H1 2026, though higher operating expenses were noted.

• Provision expenses reduced by 24.6% YoY, and provision for loans to customers increased to VND 11,522 billion.

• TCBS margin lending balance rose 52% YoY to VND 51.5 trillion, contributing 42% of operating income.

Outlook and guidance

• Full-year GDP growth forecast for Vietnam revised up to 7.9%, with strong public investment and resilient exports.

• Credit growth expected to remain strong, supported by national projects and digital transformation.

• NIM to moderate from 2025 but remain in the 3.6%-3.7% range; CASA ratio targeted at 40%.

• CIR projected to stay within 30-35%; NPL ratio controlled below 1.5%; credit costs maintained below 1%.

• TCBS reaffirms 2026 revenue target of over VND 13 trillion (+26% YoY) and PBT of VND 7.5 trillion (+18% YoY), expecting stronger H2 performance.