Techcombank's credit rating officially upgraded to BB by S&P

On August 25, 2025, S&P Global Ratings announced the upgrade of the credit rating of Vietnam Technological and Commercial Joint Stock Bank (Techcombank, code TCB, HoSE floor) to BB, affirming its position as a private joint stock commercial bank with the leading capital base and sustainable profits in Vietnam.

Techcombank "scores points" with its retail banking network and outstanding profitability

Affirming financial strength and pioneering role

S&P Global Ratings is one of the three largest and most prestigious credit rating agencies in the world . The upgrade of Techcombank continues to reflect S&P's highest recognition of a private joint stock commercial bank in Vietnam, and demonstrates confidence in Techcombank's stable outlook over the next 24 months thanks to its retail banking network and outstanding profitability.

In the press release, S&P particularly emphasized, “Techcombank will maintain its capital position over the next 24 months, after having improved significantly”, increasing by more than 20% in 2024. Techcombank's capital adequacy ratio and profitability, according to S&P's very strict calculation standards, continue to be rated the highest, far surpassing other banks in the system.

In addition, with the impressive results that Techcombank has achieved, S&P expressed confidence that, “the risk profile (of the Bank) will stabilize in the coming time, despite macroeconomic instability”, and “bad debt continues to be low compared to the industry average”.

Notably, Techcombank's low level of bad debt and potential risk debt was achieved while maintaining the most stable provisioning costs and only approximately 50% compared to competitors. Excluding qualitative factors in the provisioning policy (especially often applied by state-owned joint stock commercial banks), Techcombank's bad debt coverage ratio, risk profile as well as its own credit rating are ranked at the highest level in the industry.

The credit rating upgrade in the current context by one of the world's leading prestigious organizations not only reflects Techcombank's strong financial strength, but also strengthens the Bank's pioneering role in the Vietnamese financial system. This is an important step forward to help Techcombank further expand its access to international capital markets, enhancing the confidence of domestic and foreign investors. Techcombank continues to be the only Vietnamese bank that has been successful in diversifying its capital structure, including mobilizing from major financial institutions in the world for large long-term loans (3 - 5 years) with very competitive interest rates.

Previously, in July, Techcombank also announced that it was the only bank in Vietnam to not only achieve the "triple" of the most prestigious awards for "Best Bank in Vietnam" in 1 year, but also for 2 consecutive years (2024 - 2025), announced by Euromoney, Global Finance and FinanceAsia.

Techcombank increasingly affirms its pioneering role in the Vietnamese financial system.

Positive outlook

During the working process with S&P, Techcombank not only shared its current situation and strengths, but also proactively proposed that S&P re-evaluate the rating of the entire Vietnamese banking industry. For many years, S&P's rating, for many reasons, has not accurately reflected the industry's position compared to the remarkable progress achieved, surpassing many financial and banking industries of other countries with the same rating.

With the timely support, direction and coordination of the Government and the State Bank, Techcombank arranged working sessions for the S&P delegation with the Deputy Prime Minister, as well as with representatives of the State Bank to share more about the orientation and reality of economic management and the banking industry, strengthening the confidence of S&P experts not only in the results that Vietnam has achieved, but more importantly in the "Prospects" in the coming time.

The upgrade assessment by the world's leading credit rating agency S&P reflects the recognition of positive results not only for Techcombank, but also for the entire Vietnamese banking industry, especially in the period 2020 - 2024, when the system has firmly overcome major challenges thanks to the completion of the legal framework, strong direction as well as the enhanced capacity of banks in general and Techcombank in particular.

Regarding recent tariff concerns, S&P believes that Techcombank will be insignificantly affected, due to the very low proportion of export customers affected by reciprocal tariffs.

The credit rating upgrade of the Vietnamese banking system and Techcombank is of great significance in the context of the world's geopolitical and economic instability. Most of the assessments since the beginning of this year for other countries, banking sectors or credit institutions have only maintained, or even downgraded the credit rating or outlook. This is especially significant when S&P directly upgraded Techcombank's credit rating by 1 notch, instead of just adjusting the outlook as usual, reflecting a strong belief in the internal strength and position of Techcombank as well as the positive outlook of the Vietnamese banking system.

Source: https://baodautu.vn/techcombank-chinh-thuc-duoc-sp-nang-xep-hang-tin-nhiem-len-muc-bb-d375319.html