Company Insight

Business result 6M2026
Techcombank (TCB) posted record quarterly PBT of VND9,670bn (+22% YoY) in 2Q26, bringing 6M26 PBT to VND18,540bn (+22.5% YoY), equivalent to 49% of the full-year profit target approved by the AGM. In 1H26, net interest income (NII) grew 16.3% YoY, driven by strong credit growth. Total credit increased 15% YTD, with gross loans reaching VND950tn, significantly faster than the 11% growth recorded over the same period last year. National infrastructure projects, construction, real estate lending, and the corporate bond portfolio were the key drivers of TCB’s solid credit growth in 1H26.
Outlook
Compared with our previous report, we maintain our key 2026 assumptions, including 16% loan growth, 3.7% NIM, 1.1% NPL ratio, and 0.7% full-year credit costs. Accordingly, we forecast 2026 PBT at VND38,021bn (+17% YoY