In the first quarter, Techcombank’s lending growth has risen stoutly as the lender started to disburse home loans to buyers of the Vinhomes Sapphire project.
NewCo Service JSC has announced its successful issuance of $261 million worth of corporate bonds to Techcombank in early May, as part of an attempt to upsize its working capital for ongoing operations.
Customers who buy corporate bonds 'iBond' issued by Techcom Securities Company Limited can pledge them for a loan from this bank.
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.
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 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.
Techcombank’s value could be listed up to $900 million, making it the largest IPO in the Vietnam stock market.
Warburg Pincus has recently reached a deal to invest about $370 million in Techcombank, marking the largest private equity deal in Vietnam so far.
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 divestment in TechcomFinance is expected to help the Vietnam Technological and Commercial Joint Stock Bank (Techcombank) record an extraordinary profit of more than VND1.1 trillion (US$48.4 million) in the first and second quarter of this year.
Techcombank announced that its pretax profit in 2017 reached over VND8.03 trillion (US$354.4 million), doubling that in 2016 and naming Techcombank in Vietnam’s top five profitable banks.
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) will attain VND510 billion (roughly US$22.5 million) after selling nearly 17 million shares to an individual.
The acquisition of Techcombank's finance company allows Lotte Card to enter the booming consumer finance market in Vietnam.
Techcombank recently appeared as a beneficiary of a financial instrument issued by the Debt and Asset Trading Cooperation (DATC) to restructure SBIC's debt (formerly known as Vinashin).
