Vietnam Technological and Commercial Joint Stock Bank, commonly referred to as Techcombank, is a publicly listed Vietnamese bank. Its shares are traded on the

Ho Chi Minh City , population_density_km2 = 4,292 , population_density_metro_km2 = 697.2 , population_demonym = Saigonese , blank_name = GRP (Nominal) , blank_info = 2019 , blank1_name = – Total , blank1_ ...

Stock Exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for th ...

under ticker TCB.

History and ownership

Techcombank (TCB) was founded in 1993 by Vietnamese businessmen who returned from

Russia Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...

. Its domestic investors include

Vietnam Airlines Vietnam Airlines ( vi, Hãng Hàng không Quốc gia Việt Nam, lit=Vietnam National Airlines) is the flag carrier of Vietnam. The airline was founded in 1956 and later established as a Government-owned corporation, state-owned enterprise i ...

and

Masan Group Masan Group Corporation, (), is among the top three largest private sector companies in Vietnam in terms of market capitalization. The group was founded and is headquartered in Ho Chi Minh city. Its subsidiaries include Masan Food (consumer stapl ...

. In 2005, global bank

HSBC HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tri ...

acquired a 10% stake in Techcombank. In 2008, HSBC increased its stake in the bank to 20% by making a follow-on investment of $77.1 million. In 2017, HSBC divested its strategic investment in Techcombank by selling its 172 million share stake. In 2018, US private equity firm

Warburg Pincus Warburg Pincus LLC is a global private equity firm, headquartered in New York, with offices in the United States, Europe, Brazil, China, Southeast Asia and India. Warburg has been a private equity investor since 1966. The firm currently has over ...

invested $370 million. In 2018, the company listed its shares on the Ho Chi Minh City Stock Exchange. The company raised more than $900 million through the

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

, making it

Vietnam Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making i ...

’s largest IPO to date. The majority of the IPO shares was reserved for so-called cornerstone investors, i.e . institutional investors which included GIC, Fidelity and Dragon Capital. Today, Techcombank is one of the largest joint stock banks in Vietnam. As of 2019, it has more than 300 branches and serves more than 5 million customers. As of 2021, the bank's total assets and net income were VND 568,811bn ($24.89bn) and 18,038bn ($789 million) respectively.

References

{{Reflist

External links

Official website

Beta
Banks of Vietnam Banks established in 1993 Vietnamese companies established in 1993