As of 24th September 2006, Techcombank had registered capital of VND 1,500 billion, total assets of nearly VND 15,759 billion, and a total staff of over 1,300[1]. In terms of total assets and revenue, our annual growth rate has been in excess of 30% over the last three years. Within the next three to five years Techcombank plans to become one of the largest joint-stock Banks in Vietnam with registered capital in excess of VND 1,500 billion and total assets of over VND 22,500 billion.
Every person or organisation doing business with Techcombank has access to our extensive range of banking products and services, provided by a friendly, trained and efficient staff and fully supported by the automatic and customised features of our on-line Globus system.
Techcombank now services nearly 100,000 individual customers, who represent about 27% of the Banks total loan portfolio[2]. For these customers, Techcombank provides a full range of products and services to meet the particular needs of this customer group at various stages in their lives, and includes demand deposit accounts, savings, loan, payments, credit and debit cards, investment, guarantees and safe custody facilities. Our key products and services for these customers are cards, consumer loans and house mortgage.
Techcombank is also providing its comprehensive range of services to over 10,000 Small to Medium Enterprises (SMEs) throughout Vietnam, which represent about 65% of the Bank’s total loan portolio and 90% of its non-credit revenues[3]. The services include accounts, term deposits, loan facilities including working capital and fixed asset financing, factoring, financial and operating leases, trade finance and cash management services. We also provide businesses with competitive treasury and derivative instruments, as well as financial assistance schemes in cooperation with international service providers.
For State and large-scale private enterprises, which currently represent 8% of the Bank’s total loan portfolio and 8% of its non-credit revenues[4], Techcombank provides key products and services including cash management services, fixed-asset financing arrangements and international settlement and electronic banking services.
In the treasury market, Techcombank is proving to be one of the most dynamic in the industry, when acting for and on behalf of large corporations and financial institutions. In cooperation with large international institutions and trading floors, we provide a comprehensive range of products including foreign exchange, money market and securities trading, hedging and derivative products for many our domestic customers.
At Techcombank, we believe that good corporate governance is a fundamental element to achieve the Bank’s vision – to become one of the most favourable banks in Vietnam. Hence, corporate gorvenance is an important focus of the Bank and has provided the platform for our growth so far. Our corporate governance, build on key components such as harmony of interests between all of the Bank’s stakeholders, active participation of the Board of Directors in the operations of the Bank, timely Management Information Systems, advanced Human Resource policies and ethical code to act honestly, fairly, diligently and progressively in accordance with the law and in serving the interests of all Techcombank’s stakeholders, has been implemented successfully under the strategic guidance and oversight of the Board of Directors and the Board of Management and gives us competitive advantages.
Risk management is another matter that is receiving our great attention. Techcombank’s business controls are governed by an ongoing focus on risks in compliance with our overall strategy. Risks are grouped under three main categories: market risks, credit risks and operational risks.. At Techcombank, we do not only integrate risk management processes into all of our business planning, execution and monitoring procedures, but also in the establishment of branch-wide independent risk management frameworks and infrastructures in the form of documented credit policies and handbooks, industry monitoring system, customer rating system, bad debts alerting and monitoring systems, liquidity and daily interest rate fluctuation supervision systems.
Since the end of 2003 Techcombank has developed one of the most advanced Information Technology Banking systems in Vietnam, and our Globus on-line network now connects all branches and transaction offices.
In September 2004 the Quality Management System ISO 9000:2000 was implemented by Head Office, certificated by BVQI, and is now being applied in all branches. The quality management is clearly customer-focused and helps to improve our service quality and better manage the risks.
Striving for high quality customer service, we have also developed and implemented many projects in the staff training, customer relationship management, and we are in preparation for launching new products in investment and asset management areas.
Looking ahead, we know that there are still many challenges facing us in our quest to become one of the largest and most successful banks in Vietnam. However, this aspiration is underspined by our staff members’ confidence, commitment and decisiveness, they are all committed in their thoughts and actions to the future development and success of the Bank. This in turn will provide more benefits for our customers, and added value for our shareholders:- “Techcombank for empathy and reliability”.
Vietnam Technological and Commercial Joint- stock Bank - Techcombank was established on September 27th, 1993 with the initial registered capital of VND 20 billion with the aim to become an efficient financial intermediary bridging the savers with the investors in need of capital for business and economic development in the open-door era.
The head office was at 24 Ly Thuong Kiet, Hanoi, Vietnam.
Milestones on the path of development
1995: The registered capital was increased to VND 51.495 billion. Parallel with this event, the Ho Chi Minh city branch was established starting the process of fast expansion of Techcombank in the main urban areas.
1996: Thang Long branch and Nguyen Chi Thanh sub-branch were established in Hanoi, together with Thang Loi sub-branch in Ho Chi Minh city. The Bank’s registered capital has increased to VND 70 billion.
1998: The head office was moved to Techcombank building at 15 Dao Duy Tu str., Hanoi, Vietnam. With the establishment of Da Nang branch in the same year the branch network has covered all three main regions: the North, Central provinces, and the South.
1999: Techcombank increased the registered capital to VND 80.020 Billion. The Sub-branch No 3. at Kham Thien str. was founded.
2000: Thai Ha sub-branch in Hanoi was established.
2001: The registered capital was increased to VND 102.345 Billion. Signed a contract with a leading software supplier Temenos Holding NV to implement new banking software GLOBUS over the network of Techcombank to meet the growing demand from customers.
2002: A number of branches were established: Chuong Duong and Hoan Kiem in Hanoi, Hai Phong branch in Hai Phong City, Thanh Khe in Da Nang and Tan Binh in Ho Chi Minh City. Techcombank becomes the joint stock bank with the largest network in Hanoi. The network involves the Head Office, 8 branches and 4 sub-branches at the larges cities in Vietnam.
The registered capital has increased to VND 104.435 billion.
Preparations are underway for an increase to VND 202 Billion in registered capital. Techcombank reassures its role as a leading joint stock commercial bank in Vietnam.
2003: Leveraging on the Globus system and the Bank’s alliance with Vietcombank, Techcombank commenced issuing F@stAccess card on 05 December 2003. The Bank inaugurate the completion of deployment of the Globus system on the whole network on 16 December 2003. The Bank started the process of developing a new corporate identity.
Techcombank Cho lon was established. Registered capital has increased to VND 180 billion at 31 December 2004.
2004: Inaugurate the new identity of the Bank on 09 June 2004. Registered capital has increased to VND 234 billion at 30 June 2004, VND 252.2 billion on 2 August 2004, VND 262 billion on 20 September 2004 and VND 412.7 billion on 30 November 2004. The number of branches increased from 15 branches to 25 by December 2004.
2005: Six new branches were established in Lao Cai, Hung Yen, Vinh Phuc and Bac Ninh, Nha Trang, Vung Tau in the first half of this year. In addition, new transaction offices were opened including: Techcombank Phan Chu Trinh (Da Nang), Techcombank Cau Kieu (Lao Cai), Techcombank Van Thanh, Techcombank Phu Tho, Techcombank Nguyen Tat Thanh, Techcombank Quang Trung, Techcombank Truong Chinh (Ho Chi Minh), Techcombank Cua Nam, Techcombank Hang Dau, Techcombank Kim Lien (Ha Noi).
21/07/2005, 28/09/2005, 28/10/2005: Raised registered capital to 453 billions dong, 498 billions dong and 555 billions dong, respectively
29/09/2005: Launched the new Switching and Card Management System of Compass Plus
03/12/2005: Upgraded the corebanking system to the latest version of Temenos T24 R5
source: www.techcombank.com.vn
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