Techcombank Accounting Director wants to sell more than 900,000 TCB shares

Recently, Techcombank (HoSE: TCB) reported on TCB stock transactions by corporate insiders.

Specifically, Ms. Thai Ha Linh - Information Disclosure Person and Accounting Director of the bank, has registered to sell more than 933,000 shares owned to serve personal financial needs. The transaction is expected to take place from July 17 to August 19 by order matching on the floor and negotiation.

If successful, Techcombank's "boss" will reduce the number of TCB shares owned from nearly 1,119 million units to more than 185,000 units, equivalent to 0.0053% of Techcombank's charter capital.

According to the closing price on July 13, TCB's market price increased by 0.95% to VND31,950/share. At this price, Ms. Linh expects to earn about VND30 billion from selling TCB shares.

Regarding the financial picture, at the end of the first quarter of 2023, net interest income decreased by nearly 20% compared to the same period last year, recording more than VND 6,526 billion. This bank recorded pre-tax profit of VND 5,600 billion, down 17% compared to the same period and up 18.5% compared to the fourth quarter of 2022.

In 2023, Techcombank aims to earn VND22,000 billion in pre-tax profit, down 14% compared to 2022. Thus, after the first quarter of the year, this bank has completed nearly 26% of the annual profit target.

As of March 31, 2023, Techcombank's total assets reached VND723,517 billion, up 3.5% compared to the beginning of the year. Of which, customer loans increased by more than 10% to VND465,425 billion. However, deposits and credit to other credit institutions decreased by nearly 20%, to VND66,839 billion.

Regarding debt quality, also by the end of the first quarter of 2023, the total bad debt at this bank reached VND 3,945 billion, an increase of 30% compared to the end of 2022. Of which, group 3 and 4 debt increased the most, with an increase of 29% and 47%, respectively.

However, the bad debt ratio at Techcombank remains at 0.85%, with the bad debt coverage ratio reaching 133.8%, among the banks with the lowest bad debt (NPL) ratio .

Source