Exclusive-BNP Paribas, KB Kookmin in talks for $2 billion Vietnam Techcombank stake, sources say

France's BNP Paribas and South Korea's KB Kookmin Bank are in exclusive discussions to acquire at least a 15% stake in Vietnam's Techcombank, in a potential deal worth $2 billion, according to two sources. This strategic investment would provide the winning bank with rare access to Vietnam's rapidly expanding banking market, ending Techcombank's lengthy search for a foreign strategic partner.

The deal would value the 15% stake at around $2 billion, which is about 55% above Techcombank's current market price. If the talks are successful, the deal could be finalized by the end of 2026 or the first half of 2027, depending on the negotiations. Techcombank, which has more than 18 million clients and total assets of $48.76 billion, is seeking a valuation roughly twice its book value. Both BNP Paribas and KB Kookmin declined to comment on the market rumors and speculation.