Best bank: Techcombank
AfE 2024
Techcombank further solidified its leadership in Vietnam’s banking sector in 2023. This has been driven by its five-year transformation journey focusing on investments in digital, data and talent under chief executive Jens Lottner, who took the helm in 2020.
The bank’s strong performance is evident in the numbers. Techcombank acquired 2.6 million new customers in 2023, a 100% increase over 2022, bringing its total customer base to 13.4 million. Total assets grew by 21.5%, with industry-leading deposit and credit growth at 26.9% and 19.2%, respectively.
Techcombank has established itself as a frontrunner in various sectors, including wealth management, card payment volume and the current account savings account (CASA) ratio, which stands at 39.9%, with CASA balances rising 37% year on year.
In 2023, Techcombank generated more fee income than any other bank in Vietnam, recording a 9.5%