Techcombank Reports Over VND 2 Trillion in Related Party Deposits

Techcombank (TCB), one of Vietnam's leading private commercial banks, has disclosed in its first-half 2026 consolidated financial statements that total deposits from its board members, supervisors, executives, and related individuals have surpassed VND 2 trillion (approximately $80 million USD). Non-interest-bearing deposits from this group alone reached about VND 517.8 billion ($33 million USD) by the end of June. The disclosure of transactions with related parties in bank financial statements is crucial for ensuring transparency, as mandated by accounting and information disclosure regulations. These transactions involve entities or individuals with control, joint control, significant influence, or involvement in corporate governance, such as parent companies, subsidiaries, associates, major shareholders, board members, and management. According to the disclosures, companies related to Masan Group held time deposits totaling VND 4.634 trillion ($300 million USD) as of June 30, 2026, a slight increase from the beginning of the year. In contrast, time deposits from board members, supervisors, executives, and other related individuals amounted to VND 1.642.8 trillion ($107 million USD), a decrease from VND 2.309.6 trillion ($150 million USD) at the start of the year. For non-interest-bearing deposits, Masterise Aviation Infrastructure JSC maintained a balance of over VND 866 billion ($56 million USD) as of June 30, 2026. Notably, this company's non-interest-bearing deposit was not recorded in the financial statements at the end of 2025. Companies related to Masan Group also saw a significant increase in non-interest-bearing deposits, reaching VND 434 billion ($28 million USD) compared to VND 93 billion ($6 million USD) at the end of 2025. On the lending side, outstanding loans to Núi Pháo Mineral Exploitation and Processing Company Limited decreased to VND 440.1 billion ($28 million USD) from VND 801.2 billion ($52 million USD) at the beginning of the year. Loans to One Mount Distribution JSC also saw a substantial drop from VND 887.3 billion ($58 million USD) to VND 314.6 billion ($20 million USD). However, Eurowindow JSC had an outstanding loan of VND 570.6 billion ($37 million USD). Techcombank's total customer deposits reached VND 662.447 trillion ($43 billion USD) by the end of June 2026, an increase of over 7% from the beginning of the year. The bank reported a pre-tax profit of nearly VND 18.540 trillion ($1.2 billion USD) for the first half of 2026, a 22.5% increase year-on-year, driven by credit growth, service income, digital transformation, and controlled asset quality. It is noteworthy that Mr. Nguyen Dang Quang, Chairman of Masan Group, also serves as the First Vice Chairman of Techcombank's Board of Directors. Ms. Nguyen Thi Thanh Thuy, Chairwoman of One Mount Group, is the wife of Mr. Ho Hung Anh, Chairman of Techcombank. Additionally, Mr. Ho Anh Minh, CEO of Masterise Group, is the son of Mr. Ho Hung Anh. Source: The Saigon Times