Hanoi (VNA) – The rate of non-performing loans at the Vietnam Technological and Commercial Joint Stoꦬck Bank (Techcombank) dropped to 1.67 percent at the end of 2015, from 2.38 percent a year ear๊lier.

Reporting on its performance on February 17, the bank said it had focused on improving credit quality and seeking clients with steady income and big businesses with demand for diverse financial solutions. According to its unaudited business report, Techcombank’s pre-tax profit approximated 2.04 trillion VND (91.12 million USD) last year, rising by 43.8 percent from 2014. Meanwhile, the net interest income climbed 22.8 percent yearly thanks to credit growth of almost 30 percent. Increased total income, controlled operating expenses and more effective operations helped cut down the cost/income ratio for the second straight year, from 47.2 percent in 2014 to 39.5 percent in 2015. Techcombank’s total assets were valued at over 192 trillion VND (8.57 billion USD) in 2015, up 9.2 percent from the previous year. Last year, the bank mobilised 142.24 trillion VND (6.35 billion USD) from its clients, up 8 percent annually, while outstanding loans were at more than 111.62 trillion VND (4.98 billion USD), nearly 31.32 trillion VND (1.4 billion USD) higher than 2014. Techcombank currently has 312 branches and transaction offices, over 1,200 ATMs and 1,600 transaction points, serving more than 4 million people and 102,000 enterprises.-VNA