With a breakthrough pre-tax profit of 22.6% and record marks from the service segment, Techcombank's Q1/2026 business results are showing its readiness to lead the market in the new strategic phase.
Right in the first quarter of 2026, total operating income reached VND 13.7 trillion. The growth figure of 17.8% compared to the same period not only shows the stable breakthrough momentum of core business segments but is also a launching pad to bring pre-tax profit to VND 8.9 trillion - a record high in the first quarter of the bank.
Notably, "digital DNA" is increasingly clearly shown when more than 63% of new retail customers are attracted through online channels, demonstrating the success of the comprehensive digital transformation strategy.
User trust is also concretized through 1.4 billion electronic transactions, an impressive growth of 27.3% compared to the same period. With a dominant market share of 15.8% in the number of incoming transactions, Techcombank continues to firmly defend its throne in terms of transaction scale on digital channels, affirming its position as No. 1 in digital banking.
Mr. Jens Lottner - General Director of Techcombank shared: "Techcombank's operating results in the first quarter of 2026 recorded positive developments in a context of volatile macroeconomics. Diversifying capital sources is one of the key strategies when we aim to improve a solid liquidity foundation and support long-term sustainable growth.
The bank also signed a funding agreement worth 200 million Euros with the European Investment Bank (EIB), to expand funding for green projects, position its pioneering role in sustainable finance and strengthen our commitment to the stable development of Vietnam.
According to Mr. Jens Lottner, the Bank's focus continues to be on strengthening coordination in the ecosystem, accelerating the transformation into an organization based on artificial intelligence (AI), and becoming a strong partner for the sustainable development of the Vietnamese economy.
Breakthrough growth "drivers
Net interest income (NII) reached 9.5 trillion VND, an increase of 14.6% compared to the same period. Although capital costs increased and competitive mobilization pulled net interest margin (NIM) in the quarter down to 3.1%, NIM slipped for 12 months and still maintained stability at 3.7%.
While net interest income maintained stable growth momentum, the service income segment (NFI) really exploded when setting a new historical peak with 3.6 trillion VND. The rapid growth of nearly 47% of the service segment is the result of a mature comprehensive financial ecosystem.
Accordingly, in the payment sector, revenue from letters of credit (LC), cash and payments reached 1.6 trillion VND, a sharp increase of 158.6% compared to the same period. This positive result reflects a continuous recovery trend since the fourth quarter of 2025, driven by the implementation of new trade finance solutions and product upgrades and improvements.
In addition, card service fees reached 44.5 billion VND, an increase of 15.4% compared to the same period, reflecting the effectiveness of solutions to promote customer spending.
Not only that, revenue from foreign exchange services reached 349.3 billion VND, an increase of 25.4% compared to the same period, recording the seventh consecutive quarter of growth and continuing to play an important role in the income structure.
In particular, revenue from insurance service fees, including insurance cooperation products (bankassurance) and insurance services of subsidiaries, reached 429.2 billion VND, an increase of 103.4% compared to the same period. This reflects the strong acceleration of the insurance segment, when life insurance products were comprehensively implemented right from the beginning of 2026.
Along with the growth momentum of revenue, Techcombank continues to maintain operational efficiency and risk management discipline. Operating expenses are at 3.87 trillion VND, an increase of 17.8% over the same period but a decrease of 19.8% compared to the previous quarter, showing efforts to control expenses closely following strategic orientations. Thanks to that, the cost/revenue ratio (CIR) has been improved to 28.3%.
Meanwhile, provision expenses recorded 935.3 billion VND, down 14.2% compared to the same period. Credit expenses (12 months down) remained stable at 0.6% and at a low level of 0.4% after recovery from debts handled with provisions, reflecting the quality of assets being tightly controlled.
Portfolio pivot: When caution goes hand in hand with efficiency
Closing the first quarter of 2026, Techcombank continues to affirm its position as a leading financial institution with total assets reaching VND 1,19 million billion. Based on individual banking, credit growth reached VND 2,89% compared to the beginning of the year.
The proportion of outstanding real estate loans has been reduced by the Bank to below the threshold of 30% (reaching 28.9%), demonstrating its commitment to diversifying risky assets and towards sustainable development.
Instead, the retail and SME segments have broken through to become "double engines" promoting credit growth with an increase of 33% compared to the same period and an increase of 6% compared to the beginning of the year, reaching 395.3 trillion VND. Moreover, Techcombank's capital flow is also strongly flowing into the vital arteries of the economy when the outstanding debt in the construction sector increased sharply by 72%, focusing on key infrastructure projects, along with the recovery in FMCG, logistics and telecommunications segments.
In particular, the unsecured lending segment recorded a breakthrough growth of 159.1% compared to the same period and 14.4% compared to the beginning of the year, showing outstanding efficiency from automatic approval models and market demand understanding. In addition, home purchase loans and margin loans increased by 6.4% and 2.0% respectively compared to the beginning of the year.
In terms of mobilization, customer confidence in Techcombank continued to be strengthened with total deposits reaching 651 trillion VND, an increase of 14.2% compared to the beginning of the year. Although the high interest rate level caused a part of customers to shift cash flow to term products, the CASA ratio (including Automated Profit) still maintained at a high level of 37.9%.
Stable liquidity, thickened backup buffer
Amidst increased interest rate pressure and external risks, Techcombank still shows solid "resistance" when continuing to maintain a solid liquidity foundation. As of March 31, 2026, the loan-to-deposit ratio (LDR) is at 80.5%, while the ratio of using short-term capital for medium and long-term loans is 26.9%.
At the same time, the capital adequacy ratio (CAR) according to Basel II was raised to 15.2%, an improvement compared to 14.6% at the end of 2025. This further affirms Techcombank's solid capital foundation and leading position.
The quality of bank assets is guaranteed at a superior level with the bad debt ratio maintained at the threshold of 1. 16%. The slight increase compared to the end of last year is the result of selective portfolio restructuring, aiming to improve capital use efficiency and increase returns.
Notably, the bad debt coverage rate continued to be consolidated, reaching 129.3%, showing that the reserve buffer is increasingly thicker, reflecting a cautious approach in risk management.
