Vietnam needs more products, greater financial literacy to grow its banking market: Techcombank CEO

VIETNAM’s growing middle class needs access to more investment solutions and a wider variety of asset classes, as well as more financial education, said Techcombank’s chief executive officer Jens Lottner.

The bank, which is now the largest listed non-government owned bank in Vietnam, was founded in 1993 to service primarily the affluent and mass-affluent markets.

But Lottner said “privilege banking” in Vietnam still goes only as far as lounge access, fancy dinners, and higher cashback on credit cards, said Lottner, who took over as the bank’s chief in August 2020.