Techcombank (TCB) 2025 Net Profit Up 19%, CEO Pay Hits VND 27.5B

Overview

Techcombank (TCB) released its audited 2025 financial results, reporting a net profit after tax of VND 25,954 billion, a 19% increase year-on-year. The growth was supported by a surge in net income from forex trading and other activities, while average employee compensation saw a slight decline and CEO pay rose to VND 27.5 billion.

Key Facts

• Net profit after tax for 2025 reached VND 25,954 billion, up over 19% from the previous year.
• Net interest income grew 7.5% to VND 38,155 billion, remaining the primary revenue driver.
• Net income from forex trading surged nearly threefold, from VND 592 billion in 2024 to VND 1,642 billion in 2025.
• Net income from other activities jumped from VND 342 billion to VND 1,884 billion.
• Total staff at the bank and its subsidiaries increased by 857 to 12,705 people by end-2025.
• Average monthly employee pay was approximately VND 48 million, down VND 1 million from 2024.
• CEO Jens Lottner’s compensation rose 7.4% to over VND 27.5 billion for 2025.

What Happened

According to the audited financial report, Techcombank achieved robust profit growth in 2025, with net profit after tax climbing to VND 25,954 billion. This performance was underpinned by solid core banking operations, including a 7.5% rise in net interest income to VND 38,155 billion. Notably, the bank’s forex trading segment delivered a strong breakout, with net income nearly tripling to VND 1,642 billion. Additionally, net income from other activities saw a sharp increase, contributing significantly to non-interest income.

The report also detailed compensation trends. While total staff numbers grew, the overall payroll expense saw only a marginal increase, leading to a slight dip in average monthly employee pay to around VND 48 million. In contrast, executive compensation generally rose, with CEO Jens Lottner receiving over VND 27.5 billion, a 7.4% increase from 2024. Several board members, including Vice Chairman Nguyễn Thiều Quang, also recorded double-digit percentage increases in their remuneration.

Market Context

Techcombank (TCB) trades on the Ho Chi Minh City Stock Exchange (HOSE). The stock closed at VND 32,000 on April 15, 2026, with a slight decline of 0.16% on volume of 11.5 million shares. The 19% profit growth reported for 2025 comes amid a generally stable operating environment for Vietnamese banks, with investors focusing on asset quality and fee income diversification.

Strategic Significance

The results underscore Techcombank’s continued success in diversifying its revenue streams beyond traditional lending. The explosive growth in forex and other income segments reduces reliance on net interest margins, which can be pressured by monetary policy shifts. The divergence in pay trends—modest average employee compensation versus rising executive pay—may attract scrutiny on governance and cost management, factors long-term investors monitor for sustainable performance.

What to Watch

• First-quarter 2026 earnings release to see if the strong forex and other income trends persist.
• Any updates on the bank’s digital transformation and retail banking strategy.
• Regulatory filings related to shareholder dividends or capital plans following the 2025 profit.
• Broader sector data from the State Bank of Vietnam on credit growth and asset quality.
• Subsequent annual reports for further details on compensation structure and staff productivity metrics.