20.08.2020, 08:48

Vietnam’s Techcombank names new CEO

Vietnam Technological and Commercial Joint-Stock Bank (Techcombank) announced the appointment of Jens Lottner as its new chief executive officer (CEO) on Tuesday. 

The appointment became effective the same day, Techcombank said in a statement.

Lottner brings more than 28 years of experience in financial services with leading organizations such as McKinsey and BCG, and has spent more than two-thirds of his career in Asia.

He previously served as the chief financial officer (CFO) of Siam Commercial Bank (Thailand), where he designed and led a large-scale digital transformation program 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.

“I am honored to join Techcombank as it enters its next phase of transformation,” Lottner said.

“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-digitized 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 Mr. Jens Lottner as our new CEO. With his depth of professional experience and a proven track record of execution, we are confident that Mr. 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 to our customers and stakeholders.”

Anh also expressed sincere appreciation to former CEO Quoc-Anh Nguyen-Le for his five-year service and remarkable contributions during the bank’s strategic transformation.

“His leadership and achievements through a five-year journey with the bank have been invaluable for our stakeholders, and particularly for the more than 11,000 employees of Techcombank,” Anh said.

“I wish him much success on his new journey.”

With a focus on a 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.

The lender delivered a strong first half 2020 profit before tax (PBT) of VND6.7 trillion, up 19 percent year on year, on a total operating income (TOI) of VND11.8 trillion, up 30 percent year on year, which 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 twelve months ended June 30, 2020.

With a Basel II CAR of 16.9 percent, the highest in the market, Techcombank is well capitalized 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 eight 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 the highest among banks in Vietnam with a Ba32 from Moody’s and BB-3 from S&P and was named the ‘Best Bank in Vietnam 2020’ by FinanceAsia, as well as the ‘Best SME Bank 2020’ and the ‘Best Home Loan Product 2020’ by The Asian Banker.

Techcombank is listed on the Ho Chi Minh Stock Exchange (HOSE) under the ticker TCB.