Techcombank net profit climbs 17.5% to $973.36m in FY2025

Q4 net profit nearly doubled on higher interest income and fee income.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) saw its net profit attributable to shareholders rise 17.5% year-on-year (YoY) to $973.36m (VND25.29t) in FY2025, its latest financial statement showed.

Profit before tax (PBT) is 18.2% YoY higher at $1.25t (VND32.5t), exceeding Techcombank’s full year guidance.

Record quarterly profitability in Q4 2025, driven by accelerated net interest income and a sharp rebound in fee income, helped lift the bank’s performance for the year, according to CEO Jens Lottner.

Net profit attributable to shareholders for the fourth quarter period is $256.72m (VND6.67t), nearly double or 98.92% YoY higher than in Q4 2024.

“Performance was driven by accelerating net interest income, a
sharp rebound in fee income, coupled to disciplined cost management,” Lottner said in a press release.

For FY2025, net interest income (NII) rose 7.5% YoY to $1.47b (VND38.2t).

Net fee income rose 7.8% YoY to $442.61m (VND11.5t), driven by double-digit increases in investment banking fees, FX sales, and banca fees, offset by a decline in card fees and letters of credit (LC), remittance, and other cash & settlement.

Investment banking (IB) fees rose 20.7% YoY to $161.65m (VND4.2t) for the full year, driven by brokerage and custody services, bond advisory and distribution, and other IB services.

The bank’s IB fees declined 12.9% YoY to $30.29m (VND787b) in Q4 2025, which Techcombank said “seems mostly temporary”.

Cards saw a 15.1% YoY decline to $65.43m (VND1.7t) in FY2025, although it rose by 6.5% YoY in Q4 2025.

Letters of credit (LC), remittance, and other cash & settlement fell by 14% YoY to $119.32m (VND3.1t). Techcombank credited the decline to the impact of product-mix refinements relating to UPAS LC.

FX sales rose 36.9% YoY to $46.19m (VND1.2t) in FY2025, which Techcombank credited to its “attractive FX product suite” and tailored new offerings.

Banca fees rose 91.8% YoY to $46.19m (VND1.2t).

Operating expenses rose 6.9% YoY to $53.88m (VND1.4t) in FY2025, driven by Techcombank’s investments in IT infrastructure. Cost-to-income ratio is 30.8% for the full year.

Provision expenses were $169.3m (VND4.4t) for the full year, rising by 8.3% YoY.

Techcombank’s total assets were approximately $45.88b (VND1,192t) as of 31 December 2025.

(US$1 = VND25,981.04 | Morningstar via Google)