HANOI, August 26, 2026 — Vietnam’s banking sector is in focus after BNP Paribas and South Korea’s KB Kookmin Bank held separate talks to buy at least 15% of Techcombank. The deal could be worth about $2 billion. Two people with knowledge of the talks gave the details.
The talks are not a done deal. No final choice has been made. The two banks are seen as the main foreign bidders in the current talks. Techcombank has long sought a strong foreign bank partner. A deal would give that partner a place in one of Vietnam’s fastest growing bank markets.
Techcombank is one of the largest private banks in Vietnam. It had more than 18 million clients at the end of 2025. Its total assets stood at about VND1,273 trillion at the end of June 2026. Client deposits stood at VND697.4 trillion.
The bank also posted strong profit growth in the first half of the year. Pretax profit rose 22.5% from a year earlier to VND18.5 trillion. The rise came from higher net interest income and fee income.
The talks show why foreign banks see Vietnam as a key market. The country has a large and growing middle class. Demand for wealth services is also rising. Private banking is gaining more space as more local firms and families build wealth.
BNP Paribas already has a base in Vietnam. KB Kookmin also runs local operations. A Techcombank stake could help either bank reach more firms and rich clients. It could also build links in loans, payments, wealth care and trade finance.
Techcombank is seeking a value near two times its book value, according to the people with knowledge of the talks. That price would put a 15% stake near $2 billion. It would also be about 55% above the bank’s recent market price.
Price is one of the main issues in the talks. Techcombank shares have fallen about 9% this year as of August 25. A buyer may still see value in the bank’s long term growth. But the high price could make talks harder.
Vietnam limits foreign ownership in most banks to 30%. Foreign investors held about 20.5% of Techcombank at the time of the talks. This leaves some room under the cap. The two bidders may look at shares held by current foreign investors.
The talks also come as foreign banks seek a bigger role in Vietnam. Local banks face higher funding costs. They also face pressure to support credit growth. Foreign banks can bring capital, global links and new financial tools.
A strategic buyer could help Techcombank expand its services. It could also bring more global links for its business clients. For the foreign buyer, the bank offers access to a large local customer base.
Still, the talks may change. The sources said Techcombank may choose only one bidder. They also said a deal could come late in 2026 or in the first half of 2027. There is no promise that an agreement will be reached.
For Vietnam, the talks point to a wider shift in finance. Global banks want deeper links with local lenders. Local banks want more capital and global reach. If Techcombank reaches a deal, it could become a major test of that trend.
The talks therefore matter beyond one bank. They show that Vietnam’s financial market remains attractive to large global groups. They also show that strong local banks can draw interest even when market prices are under pressure. For now, the next step will depend on price, terms and final approval.
The outcome could also shape future foreign deals in Vietnam. A clear deal would give other banks a useful guide on price and terms. It may also show how local lenders can use foreign capital without losing their local base. That balance will matter as Vietnam seeks more deep and open financial markets.
