Techcombank first private bank to top VND100 trillion in equity
Techcombank, listed on the Ho Chi Minh Stock Exchange as TCB, has become the first private bank in Vietnam with equity exceeding VND100 trillion ($4.27 billion).
Its Q2 financial report mentions equity at VND104.47 trillion ($4.46 billion) as of June 30, up 12.29% from the end of 2021.
Techcombank is a leading private creditor in Vietnam. Photo courtesy of the bank.
As of June 30, TCB recorded total asset value of VND623.75 trillion ($26.65 billion) and liability of VND519.27 trillion.
Its consolidated net profit reached VND5.8 trillion ($247.8 million) in Q2/2022 and VND11.31 trillion in the first half of this year.
The first Vietnamese bank to reach the landmark of VND100 trillion in equity was the state-owned Vietcombank, which did so at the end of last year. Its equity at the end of Q1/2022 was VND117.08 trillion ($5 billion).
Other banks in Vietnam with high potential to reach the milestone of VND100 trillion in equity are VietinBank (CTG) and VPBank (VPB).
VPB’s equity was VND98.52 trillion as of June 30 this year, while VietinBank’s Q1/2022 report showed its equity had reached VND98.3 trillion.
The “big four” banks in Vietnam, with the state as the majority shareholder - VietinBank, BIDV (BID), Vietcombank (VCB) and Agribank - are yet to release their Q2 financial reports.
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