Prime Highlights
- Techcombank serves more than 18 million clients and covers over half of Vietnam’s affluent customers.
- First-half pretax profit rose 22.5% to 18.5 trillion dong on strong income growth.
Key Facts
- BNP Paribas and KB Kookmin Bank hold separate talks for a stake in Techcombank.
- Deal could be worth $2 billion, offering rare access to Vietnam’s banking market.
Background
France’s BNP Paribas and South Korea’s KB Kookmin Bank are holding separate talks to acquire a stake of at least 15% in Vietnam’s Techcombank, in a deal that could be worth $2 billion, according to sources familiar with the discussions.
The potential deal would give the winning bank valuable access to Vietnam’s fast-growing banking market and mark a milestone in Techcombank’s search for a foreign strategic partner.
Techcombank is seeking a valuation of about twice its book value, sources said, a level that would reflect strong confidence in the bank’s growth potential. A 15% stake at this valuation would be worth around $2 billion.
KB Kookmin Bank said it does not comment on market speculation, following South Korea’s disclosure rules, while Techcombank and BNP Paribas declined to comment. Foreign banks continue to expand their presence in Vietnam, supporting local lenders and strengthening the country’s banking sector.
Vietnam’s largest lenders already count Japanese and South Korean banks among their strategic investors, such as Sumitomo Mitsui Banking Corp, which took a 15% stake in VPBank in 2023. Foreign ownership in Techcombank stands near 20.5%, staying within Vietnam’s 30% cap for most banks.
Techcombank, founded in 1993, now serves more than 18 million clients and covers well over half of Vietnam’s high-net-worth and affluent customers.
The bank’s total assets reached 1,273 trillion dong at the end of June 2026, while first-half pretax profit grew 22.5% from a year earlier to 18.5 trillion dong, supported by strong net interest and fee income growth.
A deal could be reached by the end of 2026 or the first half of 2027, sources said, as BNP Paribas and KB Kookmin Bank look to tap Vietnam’s expanding middle class and rising wealth management demand.
