Techcombank Chairman's daughter spends trillions to buy bank shares

Ms. Ho Thuy Anh, daughter of Techcombank Chairman Ho Hung Anh, bought 82 million TCB shares worth at least VND2,600 billion.

Ms. Ho Thuy Anh bought all the registered TCB shares of Techcombank, through negotiation, from September 5 to September 8.

During this period, TCB shares recorded "huge" volume of negotiated transactions, totaling about 83 million shares in two sessions on September 5 and September 8.

Specifically, the session on September 5 recorded more than 37.5 million TCB shares traded in agreement with a value of more than VND 1,200 billion, or an average of nearly VND 32,000 per share. The session on September 8 saw 45.8 million TCB shares traded in agreement with a value of more than VND 1,530 billion, equivalent to VND 33,300 per share.

It is estimated that at the average agreed price during this period, Mr. Ho Hung Anh's daughter spent at least VND2,600 billion to buy 82 million TCB shares. After this transaction, Ms. Ho Thuy Anh holds more than 104.6 million shares, equivalent to the ownership ratio of more than 2.97% of the bank's shares.

Currently, TCB's stock price fluctuates around VND35,000 per share, 27% higher than at the beginning of this year.

As of the end of June, Techcombank Chairman Ho Hung Anh held about 39.3 million shares, equivalent to 1.1% ownership of the bank. Including shares owned by relatives and related companies, Mr. Ho Hung Anh's family held 621 million TCB shares, equivalent to 17.7% ownership.

In the first half of this year, Techcombank's profit was less than VND11,300 billion, down 20% compared to the same period in 2022, mainly due to difficulties in its core business segments of real estate credit and corporate bonds. The bank's core credit revenue decreased sharply by 20%, and non-credit revenue also grew lower than the same period last year.

Techcombank, which has been the "runner-up" bank in terms of profits in the banking industry for many years, has fallen to the bottom of the top 5 in the profit rankings for the first 6 months of this year.

Quynh Trang

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