Techcombank named the most active market maker for government bonds
Techcombank scooped up the first place among market makers of government debt instruments in 2021, as recognised by the Ministry of Finance (MoF).
Techcombank has received this recognition for two consecutive years. Accordingly, the bank is the most active when it comes to developing and issuing government bonds, thereby boosting liquidity in the Vietnamese market.
The MoF releases the list annually with the goal to honour market makers who have contributed to the development and issuance of government bonds in order to increase market liquidity. This is one of the most prestigious rankings when it comes to assessing the ability of domestic financial institutions to raise funds for the state budget.
Accordingly, 17 organizations have been identified as market makers in 2021. On the list are 13 banks and four non-banking financial institutions. Government debt instruments include bonds, bills, national construction bonds, and other instruments issued by the government. This is the most important medium and long-term capital mobilisation channel for the state budget, contributing to the financing of central and local public welfare works.
The recognition reaffirms Techcombank’s pioneering efforts to contribute to Vietnam’s economic development. It is also a testament to the bank’s efficiency in serving customers who want to invest in government bonds. Techcombank consistently led in successful bond auction value month after month in 2021.
Phan Thanh Son, deputy CEO of Techcombank said, “Techcombank is proud to be recognised by the MoF as the leading market maker of government debt instruments. The top position has proven that Techcombank is on right track to realise its vision of transforming the financial industry.
“Techcombank will continue to maintain this position in bidding activities in the primary market, providing liquidity and establishing the secondary market. The bank will also participate in the development of new products as well as discussions for drafting new policies for the bond market,” he added.
The recognition reaffirms Techcombank’s pioneering efforts to contribute to Vietnam’s economic development.
Besides this, Techcombank was granted the VBMA’s Best Bond award by the Vietnam Bond Market Association (VBMA) in the category of market makers for the most outright transactions in 2020.
In 2021, Techcombank has been rated highest among banks in Vietnam with a BA+ positive outlook by Moody’s and was the only bank that was restrained by sovereignty ratings. It is rated BB- positive outlook by S&P. The bank was named The Best Bank in Vietnam by Euromoney in 2018 and 2021, and has been recognised as the Best Payments Bank in Vietnam in 2021 and Most Recommended Transaction Bank in Vietnam in 2021 by the Asian Banker.