S&P Global Ratings has upgraded Techcombank’s credit rating to BB, reflecting the highest recognition for a private commercial bank in Vietnam. This upgrade indicates confidence in Techcombank’s stable outlook over the next 24 months, supported by superior profitability and a strong retail banking network. S&P notes that Techcombank maintains capital adequacy with low non-performing loans and stable provisioning costs. This rating enhancement not only confirms Techcombank’s financial strength but also reinforces its role in the Vietnamese financial system, broadening access to international capital markets. Techcombank is the only Vietnamese bank to achieve a triple win of prestigious awards and has proactively engaged with S&P to reassess the banking sector’s ratings. The upgrade comes amid global geopolitical instability, demonstrating steadfast confidence in Techcombank’s position and the positive outlook for Vietnam’s banking sector.
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