Vietnam Technological and Commercial Joint Stock Bank (TCB) Investor presentation summary

Competitive position

• 1H2025 loan book $27.2Bn and equity book value $6.2Bn; retail franchise serves ~50% of Vietnam’s affluent population.

• Reported 1H2025 CASA ratio 41.1%, Tier 1 ratio 14.3%, gross NPL ratio 1.32% and NPL coverage 106.4%.

• FY2024 fee income VND10.6Tn and NFI/TOI ratio 23.2%; LTM 1H2025 ROA 2.2%.

• 2014–2024 PBT CAGR 34.5%, versus 23.4% for the industry; average CAR 14.6%, versus 12.2%.

Business model and growth engines

• Core franchise spans affluent retail, mortgages, cards, wealth management, transaction banking and blue-chip corporates; growth plans target mass affluent, mass and SME segments.

• Ecosystem links banking with securities, insurance, property, commerce and data platforms, aiming to deepen cross-selling, improve customer access and lower acquisition and risk costs.

• Technology investment exceeded VND12Tn in 2021–2025; digital transactions represented 91.1% of customer transactions in FY2024.

• Data platforms integrate ~100 source systems and process 8Bn data points daily, supporting 12,000+ customer features and 55 AI/ML models.

• Strategic priorities include real estate, FMCG, protection and auto/mobility; ESG focus includes renewable energy, green agriculture, data centers and green buildings.

Vietnam market opportunity

• Government resolutions target 10–12% private-sector growth and 2 million private enterprises by 2030; national ambition is 10%+ economic growth in the next decade.

• Vietnam’s 2023–2033E sector loan and deposit CAGRs are projected at 13.8% and 11.3%, respectively, the highest among the listed Southeast Asian markets.

• Financial services remain underpenetrated: 2024 mortgage balance was 29.2% of GDP, credit cards 0.4 per capita and local-currency corporate bonds 13.4% of GDP.

• Government targets include stock-market capitalization of 120% of GDP and corporate bonds at 25% of GDP by 2030; FTSE upgrade-related reforms are progressing.