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Techcombank attained nearly $224 million profit in first six months

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has just reported to gain an extremely high pre-tax profit of nearly $224 million in the first half of 2018, almost double those of the same period last year.

Techcombank to increase charter capital threefold up to $1.53 billion

A plan to increase the charter capital up to $1.53 billion from $504 million to become the third largest bank in Vietnam was approved in shareholders' extraordinary meeting of Techcombank held yesterday.

Techcombank's shares price plummeted upon its first listing on bourse

Techcombank's shares price was steeply reduced by 20 per cent to VND102,400 ($4.49) per share, lower than initial reference prices of VND128,000 ($5.6) making the bank's capitalization value dropped by nearly $1.32 billion.

Pressure of Basel II pushes banks to increase charter capital

The State Bank of Vietnam recently approved two leading commercial banks, namely VPBank and MB to raise its charter capital, the move being considered as necessity to increase their competitiveness and satisfy with standards of Basel II to control risks of credit, market and operation.

Techcombank is expected to gain $900 million in its upcoming IPO

Techcombank’s value could be listed up to $900 million, making it the largest IPO in the Vietnam stock market.

Taking position in $439 million of pretax profit - race of Tecombank and VPBank

The ambitious targets set by banks in 2018 forecast that the private banks will usurp the state owned commercial ones.

Warburg Pincus targets more deals in Vietnam after pouring $370 million into Techcombank

Warburg Pincus has recently reached a deal to invest about $370 million in Techcombank, marking the largest private equity deal in Vietnam so far.

Billionaires in the hand of banks

Being a billionaire by owning billions of dollar of assets, many Vietnamese businesses use these assets to secure their loans or related companies at banks.

Warburg Pincus to invest US$370 million into Techcombank

Techcombank has announced that two separate legal entities managed by Warburg Pincus will invest over US$370 million into the Bank, subject to appropriate regulatory approvals.

The financial sector attracted enormous foreign investment in the first two months of 2018

In only the first two months of this year, the banking, financial services and insurance sector (BFSI) of Vietnam received up to US$1.45 billion worth of investment.

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