Vietnam Technological and Commercial Joint Stock Bank (TCB) Q2 2025 earnings summary

Executive summary

• Achieved record-high quarterly profit before tax (PBT) of VND 7,899bn in Q2 2025, up 9% QoQ and nearly 1% YoY, positioning the bank on track to meet the full-year guidance of VND 31.5 trillion.

• Maintained market-leading return on assets (ROA) at 2.2% (LTM), strong fee income, and robust CASA ratio above 40%.

• Asset quality remained stable with organic NPL at 1.05% and coverage ratio at 106.4%.

• Interim consolidated financial statements for H1 2025 were reviewed by Ernst & Young Vietnam with no material misstatements.

• The bank operates a broad network with 300 branches, four subsidiaries, and 12,355 employees.

Financial highlights

• Total operating income (TOI) declined 4.8% YoY in Q2 2025 due to NIM compression and regulatory impacts on fee income.

• Net profit attributable to shareholders was VND 12,195 billion, a slight decrease of 1.8% YoY.

• Loans to customers increased to VND 710,313 billion, up from VND 631,725 billion at year-end 2024.

• CASA ratio improved to 41.1% in Q2 2025, up from 39.2% YoY.

• Wealth banking revenue up 14% YoY, with strong growth in investment distribution and insurance.

Outlook and guidance

• FY25 guidance unchanged: targeting low double-digit credit growth, NPL managed below 1.5%, and CIR to remain in the 30-35% range.

• Full-year GDP forecast for Vietnam at 7.7%, supported by robust exports, FDI, and government infrastructure spending.

• NIM expected to end 2025 slightly below 4% due to ongoing margin pressure.

• The bank will comply with new profit distribution regulations under Decree 135/2025/ND-CP effective 1 August 2025.

• No significant post-reporting period events affecting operations were identified.