Techcombank H1 2026 Profit Up 22.5% to VND 18,540B; LPBank Declines 3.1%

Overview

Techcombank (TCB) reported a 22.5% year-on-year increase in H1 2026 pre-tax profit to VND 18,540 billion, while LPBank (LPB) recorded a 3.1% decline to VND 5,973 billion. The results, disclosed by the banks on July 21, 2026, provide an early snapshot of banking sector performance for the first half of the year. VPBank currently leads private banks with VND 18,880 billion in pre-tax profit.

Key Facts

• Techcombank H1 2026 pre-tax profit: VND 18,540 billion, +22.5% YoY.
• Techcombank total assets at June 30, 2026: VND 1,273 trillion, +6.9% from end-2025.
• Techcombank credit growth (excluding infrastructure and social housing loans): 11.6%.
• Techcombank NPL ratio: 1.15%, down from 1.16% in Q1 2026.
• Techcombank CAR (Basel II): 15.0%, down from 15.2% in Q1 2026 after cash dividend payment of nearly VND 5 trillion.
• LPBank H1 2026 pre-tax profit: VND 5,973 billion, -3.1% YoY, achieving ~40% of full-year target.
• LPBank total assets at June 30, 2026: VND 615,502 billion, +6% from Q1 2026.
• LPBank credit growth: 10% from end-2025, with Q2 alone adding VND 26 trillion in loans.

What Happened

As of the afternoon of July 21, 2026, ten banks had disclosed their H1 2026 financial results. Techcombank reported a 22.5% rise in pre-tax profit to VND 18,540 billion, driven by credit expansion and stable asset quality. The bank’s loan-to-deposit ratio (LDR) eased to 80.1%, and its short-term funding for medium- and long-term loans remained at 27.8%, within regulatory limits. Techcombank maintained a strong capital buffer with a CAR of 15.0%, despite distributing nearly VND 5 trillion in cash dividends.

LPBank, meanwhile, posted a 3.1% decline in H1 pre-tax profit to VND 5,973 billion, though Q2 2026 profit rose 5% YoY to VND 3,147 billion. The bank’s total assets approached its full-year target of VND 615,600 billion. Deposit growth was robust, with market 1 deposits up 8% from end-2025 and 17% YoY. Loan growth accelerated in Q2, with outstanding credit reaching VND 429,465 billion.

Market Context

Techcombank (TCB) closed at VND 29,800 on July 21, 2026, on the HOSE. The stock has been under pressure amid sector-wide concerns about credit growth and net interest margins. LPBank (LPB) closed at VND 54,600 on the same day. The mixed earnings results reflect a diverging performance among Vietnamese banks, with some benefiting from strong loan demand and others facing margin compression or higher provisioning.

Strategic Significance

Techcombank’s solid profit growth and stable asset quality underscore its position as one of Vietnam’s best-capitalized private banks. The bank’s ability to maintain a CAR above 15% while paying cash dividends highlights its earnings resilience. For LPBank, the slight profit decline and relatively low target achievement rate (40%) may raise questions about its near-term earnings trajectory, though the Q2 rebound offers some reassurance. The sector’s overall health will depend on credit demand, NIM trends, and asset quality in the second half of 2026.

What to Watch

• Techcombank’s Q3 2026 earnings release for continued profit momentum.
• LPBank’s progress toward its full-year profit target and any guidance updates.
• SBV policy on credit growth quotas for the remainder of 2026.
• NPL trends across the banking sector, especially for banks with high exposure to real estate.
• Foreign ownership changes for TCB and LPB following the results.