Techcombank Reportedly Weighs 15% Stake Deal Worth US$2 Billion

Techcombank's pursuit of a US$2 billion stake deal with either BNP Paribas or KB Kookmin reflects a strategic move to secure international banking partnerships. For Vietnam's financial sector, this potential transaction highlights the ongoing interest from foreign investors despite regulatory complexities. The 30% foreign ownership cap in Vietnamese commercial banks means any new 15% stake would likely require a purchase from existing foreign shareholders, rather than an entirely new issuance. The key hurdle for Techcombank is its requested valuation, which is approximately 55% above its previous closing share price. This premium valuation, double its book value, is a significant point of contention in negotiations. The outcome of these discussions, expected by late 2026 or early 2027, will indicate how Vietnam's third-largest privately owned bank navigates foreign investment rules and market expectations for its asset value.