Thursday, 08/20/2020 08:14

Techcombank (TCB) appoints finance veteran as new CEO

Hanoi-based commercial lender Techcombank has announced the appointment of Jens Lottner as its new CEO, effective from August 18, 2020.

Techcombank appoints finance veteran as new CEO
Jens Lottner, the new CEO of Techcombank

Lottner brings more than 28 years of experience in financial services at leading organisations such as McKinsey and BCG, and has spent more than two-thirds of his career in Asia.

He previously served as CFO of Siam Commercial Bank (Thailand) where he designed and led a large-scale digital transformation programme that included the implementation of a new mobile banking platform, redesigning segment business models, and the installation of a cloud-based data lake and analytics platform.

“I am honoured to join Techcombank as it enters its next phase of transformation. I have been truly impressed by its growth and development in Vietnam and its recognition by the international investment community,” said Jens Lottner.

“I look forward to partnering with the management team as part of the next phase of Techcombank’s continued transformation journey to provide market-leading, highly-digitised banking solutions and services to customers and people across Vietnam,” he added.

Techcombank’s chairman Ho Hung Anh welcomed the new CEO by saying, “With his depth of professional experience and a proven track record of execution, we are confident that Lottner is the ideal leader to spearhead the development and execution of Techcombank’s long-term strategies in moving the bank forward and bringing the best benefits for our customers and stakeholders.”

The board chairman also expressed his sincere appreciation to former CEO Nguyen Le Quoc Anh for his five years of service and remarkable contributions during the bank’s strategic transformation. “His leadership and achievements through his five-year journey with the bank has been invaluable for our stakeholders, particularly for the more than 11,000 employees of Techcombank,” Ho said.

With a focus on customer-centric strategy and “low risk, high return” business model, Techcombank is a leading bank in Vietnam both in terms of profitability and operational efficiency.

The bank was named the Best Bank in Vietnam by FinanceAsia and the Employer of the Year by HR Asia, Asia’s leading publication for HR professionals, in 2020.

Techcombank delivered strong first half 2020 pre-tax profit with VND6.7 trillion ($291.3 million), up 19 per cent on-year, and total operating income (TOI) with VND11.8 trillion ($513 million), a 30 per cent jump on-year. Additionally, it has reported its 19th consecutive quarter of on-year revenue growth, despite the continuing challenges of the COVID-19 pandemic.

The bank continues to lead the market with a healthy 2.9 per cent return on assets (ROA) for the last 12 months ending on June 30, 2020. With a Basel II CAR of 16.9 per cent, the highest in the market, Techcombank is well capitalised to support its customers in these challenging times and to further enable their growth as the economy rebounds from COVID-19.

Established in 1993, Techcombank is one of the largest joint-stock banks in Vietnam, providing a broad range of banking solutions and services to almost eight million retail and corporate customers through an extensive network of over 300 transaction offices across the country and through its market-leading digital banking services.

Techcombank was named Best Bank in Vietnam 2020 by FinanceAsia, and received the Best SME Bank 2020 and Best Home Loan Product 2020 titles from The Asian Banker. The bank has been listed on the Ho Chi Minh City Stock Exchange (HSX) since June 2018 under the ticker TCB.