Techcombank chairman’s daughter buys 82 mln TCB shares

Ho Thuy Anh, daughter of Techcombank (TCB) chairman Ho Hung Anh, has bought 82 million TCB shares worth at least US$110.1 million.
The transaction, completed between Sept. 5-8, will increase her stakes in Vietnam’s largest private bank from 0.64% to 2.97%.

As of the end of June, the chairman Hung Anh held 39.3 million TCB shares, or 1.1% stake in the lender. His family currently holds 621 million TCB shares, a 17.7% stake.

In the four-day period Sep5-8, a total of 83.3 million TCB shares changed hands in put-through transactions at two trading sessions on Sept. 5 and Sept. 8.

Specifically, the Sept. 5 session saw 37.5 million TCB shares worth VND1.2 trillion (US$50.8 million) traded, and the Sept. 8 session saw 45.8 million shares change hands worth a total VND1.53 trillion.

Currently, the market price of TCB shares has been fluctuating around VND35,000 per share, 27% higher than the beginning of this year.

The bank’s profit was VND11.3 trillion in the first half of this year, a year-on-year decline of 20%, mainly due to difficulties accessing corporate bonds and real projects’ struggles attaining credit.

After being the second-biggest profit maker among commercial banks in Vietnam for years, Techcombank fell to fifth place in profit rankings in the first six months of this year.