BNP Paribas and KB Kookmin Bank Vie for Techcombank Stake

Vietnam Technological and Commercial Joint-stock Bank is in separate negotiations with BNP Paribas and KB Kookmin Bank to sell a strategic stake of at least 15% in its operations. The potential deal is valued at approximately $2 billion, representing a 55% premium over the bank's current market price and roughly two times its book value.

Techcombank, the third-largest privately owned bank in Vietnam by total assets, is seeking a single foreign partner to gain better access to its platform and the country's expanding private banking and wealth management sectors. Both the French bank BNP Paribas and the South Korean KB Kookmin Bank already maintain branches in Hanoi and Ho Chi Minh City.

While negotiations are ongoing, a formal agreement has not been reached. Valuation remains the primary obstacle to a deal. Sources indicate a final agreement could be reached by the end of 2026 or during the first half of 2027.