Techcombank appoints new CEO
Hanoi (VNS/VNA) – The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) announced the appointment of Jens Lottner as Chief Executive Officer (CEO), effective August 18, 2020.
Lottner brings more than 28 years of experience in financial services with leading organisations such as McKinsey and BCG, and has spent more than two-thirds of his career in Asia.
He previously served as CFO of Siam Commercial Bank (Thailand), where he designed and led a large-scale digital transformation programme that included the implementation of a new mobile banking platform, redesign of segment business models, and installation of a cloud-based data lake and analytics platform.
Lottner said: “I am honoured to join Techcombank as it enters its next phase of transformation. I have been truly impressed by its growth and development in Vietnam and its recognition by the international investment community. I look forward to partnering with the management team as part of the next phase of Techcombank’s continued transformation journey, to provide market-leading, highly-digitised banking solutions and services to customers and people across Vietnam.”
On behalf of Techcombank’s Board of Directors, Chairman Ho Hung Anh said: “I am delighted to welcome Jens Lottner as our new CEO. With his depth of professional experience and a proven track record of execution, we are confident that Lottner is the ideal leader to spearhead the development and execution of Techcombank’s long-term strategies in moving the bank forward and bringing the best benefits for our customers and stakeholders.”
The Board Chairman expressed sincere appreciation to CEO Nguyen Le Quoc Anh for his 5-year service and remarkable contributions during the bank’s strategic transformation.
“His leadership and achievements through the 5-year journey with the bank has been invaluable for our stakeholders, and particularly for the more than 11,000 employees of Techcombank. I wish him much success on his new journey,” Ho Hung Anh said.
With a focus on customer-centric strategy and “low risk, high return” business model, Techcombank is a leading bank in Vietnam in terms of profitability and operational efficiency. Techcombank was named the “Best Bank in Vietnam” by Finance Asia and the “Employer of the year” by HR Asia in 2020.
Techcombank delivered a strong first half of this year with before-tax profit of 6.7 trillion VND (up 19 percent from the same period last year) on total operating income (TOI) of 11.8 trillion VND (up 30 percent year-on-year) and extended to 19 consecutive quarters of year-on-year revenue growth, despite continuing challenges due to COVID-19.
The bank continued to lead the market with a healthy 2.9 percent return on assets (ROA) for the last twelve months ending June 30, 2020. With a Basel II CAR of 16.9 percent, the highest in the market, Techcombank is well capitalised to support its customers in these challenging times and to further enable their growth as the economy rebounds from COVID-19.
Established in 1993, Techcombank is one of the largest joint stock banks in Vietnam, and a leading bank in Asia. Techcombank pursues a proven customer-centric strategy in providing a broad range of banking solutions and services to almost 8 million retail and corporate customers in Vietnam through an extensive network of over 300 transaction offices across the country and through its market leading digital banking services.
The bank’s ecosystem approach implemented across multiple key economic sectors further differentiates Techcombank in one of the fastest growing economies in the world.
Techcombank is rated highest among banks in Vietnam with a Ba32 from Moody’s and BB-3 from S&P and was named “Best Bank in Vietnam 2020” by FinanceAsia, and “Best SME bank 2020” and “Best home loan product 2020” by The Asian Banker. Techcombank is listed on the Ho Chi Minh Stock Exchange (HOSE) under the ticker TCB./.VNA
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