BNP Paribas and KB Kookmin Bank are separately pursuing 15% stakes in Techcombank, Vietnam's third-largest private lender, according to Reuters reporting from August 26. The two foreign institutions would each acquire the stake in separate transactions.
Techcombank is one of Vietnam's five largest deposit-taking banks by total assets and the largest among privately held joint-stock commercial banks. Foreign ownership of Vietnamese banks has long faced regulatory constraints, making stakes of this size uncommon for international financial institutions in the market. The transactions would require approval from Vietnam's State Bank and potentially other government authorities.
BNP Paribas, the Paris-based banking group with operations across Vietnam, would be expanding its presence in one of Southeast Asia's fastest-growing economies. KB Kookmin, South Korea's largest bank by assets, has pursued expansion across the region and holds stakes in other regional lenders. Neither bank has disclosed the valuation basis for the stakes or timing for regulatory approval.
Techcombank was founded in 1993 and operates as a universal bank offering retail, corporate and investment banking services. The bank had targeted a market capitalization of 20 billion dollars by end of 2025, according to prior chairman statements. Vietnam's banking sector has attracted foreign capital in recent years as the country's economy expanded and foreign investment rules gradually eased.
International banks have sought positions in Vietnam's financial system in recent years. State-owned lenders dominate the sector by asset size, but private banks including Techcombank, Vietinbank and others have grown market share in recent years. Foreign strategic investors in Vietnamese banks have previously included stakes held by Japanese and Southeast Asian institutions.
If approved, the stakes would represent a significant foreign ownership position in a major Vietnamese bank but would not constitute control. Techcombank's board and management would remain under Vietnamese direction pending any shareholder agreements negotiated as part of the investment. The regulatory approval process typically takes months and involves multiple government agencies assessing capital adequacy, strategic fit and national interest considerations.
BNP Paribas and KB Kookmin have each negotiated separately with Techcombank or its existing shareholders. KB Kookmin and BNP Paribas would each hold minority positions without combined control. The announcement itself contains no timeline for regulatory approval or expected closing date.
