Fitch Ratings on Oct. 27, 2026 raised Techcombank's (HoSE: TCB) long-term foreign and local currency IDRs from 'BB-' to 'BB' with a Stable Outlook, raised its VR to 'bb', and kept its GSR at 'bb-'. Fitch cited consistent risk control in the bank's large real estate portfolio and a stable NPL ratio, though its real estate exposure remains high relative to peers. Annualized operating profit to RWA rose to 2.9% in H1 2026 from 2.6% in 2025, and the Tier 1 ratio was 14.1% at Q3 2026, nearly unchanged year on year. The loan-to-deposit ratio fell to 77.7% from 80.1% at end-Q2 2026, helped by lower-cost offshore funding, and management expects a higher rating to broaden access to international capital markets. Fitch expects NPLs to stay broadly stable over the next 12 months, though rising funding costs could add slight pressure, and long-term funding needs remain.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Fitch nâng xếp hạng tín nhiệm của Techcombank lên BB, đánh giá cao năng lực kiểm soát rủi ro và khả năng sinh lời
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
TCB
▲ Likely positiveTechcombank
Relevance: high
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 237,743 bn VND |
| P/E | 8.3 |
| P/B | 1.27 |
| Close on 10/28/2026 | 33.50 |
| Change that session | -0.15% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Fitch upgrades Techcombank's credit rating: Expanding advantages in the international capital markets
Fitch Ratings has raised Techcombank's Long-Term Issuer Default Rating from BB- to BB with a Stable Outlook, and its Viability Rating from bb- to bb. Fitch cited improvements in asset quality, business profile and risk management, along with prudent credit standards the bank maintained through volatile markets. The article highlights Techcombank's CASA ratio, which is among the industry's leaders, and a Tier 1 capital ratio of 14.1% in Q3 2026. According to the article, the upgrade strengthens the bank's reputation with international investors and widens its access to international funding sources.
- Limited credit ratings for Vietnamese bank bonds make risk pricing difficult for investors
VIS Rating's report says domestic credit ratings for Vietnamese bank bonds remain limited, even though banks are the largest issuers, accounting for about 46% of outstanding corporate bond value as of end-September 2026. At end-2025, only 2 of 28 commercial banks analysed had domestically rated bonds, about 7%, compared with roughly 60% in Thailand and above 75% in Malaysia, South Korea and China. Overall, only about 12% of outstanding corporate bond value is domestically rated, versus 96% in Thailand. Mandatory rating rules do not cover most bank bonds: public offerings of bank bonds are exempt, and privately placed bonds sold only to institutional investors are not mandatory either. VIS Rating says broader ratings would help investors compare risk across the largest bond issuers.
- ACB 9M 2026 Business Results: Credit Grows 11.5%, FitchRatings Raises Rating to BB, Outlook Stable
ACB reported 9-month 2026 results with credit growth of 11.5%, with corporate customers remaining the main growth driver. At the end of Q3, customer loans reached 765 trillion VND and total funding exceeded 807 trillion VND, up 12.3% from the start of the year. During the period, ACB raised a 500 million USD international syndicated loan, and Fitch Ratings upgraded its rating by one notch to BB with a Stable outlook. Pre-tax profit for the nine months exceeded 16,600 billion VND, completing 74% of the full-year 2026 plan, while the Q3 cost-to-income ratio was 31%.
- S&P Global Ratings assigns 'AA' to SHB bonds guaranteed by ADB trust fund
S&P Global Ratings assigned a long-term 'AA' rating, with a Stable outlook, to SHB's planned Singapore dollar-denominated unsecured bonds guaranteed by the Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank. The rating equals CGIF's long-term foreign-currency issuer rating, reflecting the guarantee's unconditional, timely and irrevocable nature. SHB plans to launch the international bond offering and a syndicated loan in October 2026, with the Singapore Exchange approving in-principle listing on Oct. 12 and Vietnam's securities regulator approving the offering registration. The bank says the move diversifies its funding sources and currencies and widens its investor base. In 2025, SHB raised two medium-term USD syndicated loans totaling $600 million from 26 international financial institutions.
- What Stands Out About CTD, TCB and PNJ?
Securities firms view the outlook for CTD and TCB positively, with target prices of 87,500 VND per share and 41,800 VND per share respectively. ACB Securities (ACBS) projects CTD's 2027 revenue at 42,150 billion VND and after-tax profit at 904 billion VND, while BIDV Securities (BSC) reports TCB's record third-quarter 2026 pre-tax profit of 10,375 billion VND, up 26%. Conversely, VNDIRECT has stopped updating PNJ from October 21, 2026, as uncertainty grew after the P-Lab incident, with the company facing a 21,000 billion VND diamond buyback obligation and an expected 2026 net loss of 6,270 billion VND.
- Ex-Dividend Schedule for 26/10–30/10, Highest Rate at 60%
Between 26/10 and 30/10/2026, about 18 companies and banks listed on the exchanges are set to pay dividends in cash or shares, with rates ranging from 60% (highest) down to 3.5% (lowest). The highest rate belongs to Nam Tan Uyen Industrial Park JSC (NTC, HoSE), which will pay 60% in cash for 2025, or VND 6,000 per share, with a last registration date of 26/10/2026. The lowest belongs to Tan Binh Real Estate JSC (TBR, UPCoM), paying 3.5% in cash for 2025, or VND 350 per share, with a last registration date of 28/10/2026. Other companies include Vimedimex (VMD) paying 20% in cash, TKV Mineral Resources Corporation (KSV) an advance of 30% for 2026, Dong Son Holdings (DSH) paying stock at 100:12, Song Da Corporation (SJG) paying 12% in cash, Techcombank (TCB) paying stock at 100:50, and Nam Mu Hydropower (HJS) paying a second 2025 installment of 7% in cash.
Related markets
Latest news
- Vincom Retail's Nine-Month After-Tax Profit Reaches VND 4,737 Billion, 88% of Plan Completed
Vincom Retail (VRE) released its consolidated Q3 2026 financial report under Vietnamese Accounting Standards (VAS). In Q3, net revenue reached VND 2,374 billion, up 5.5%, including VND 2,285 billion from leasing and related services (up 7.6%); profit after tax was VND 1,522 billion, up 10.6% (25.6% excluding an extraordinary income item recorded in Q3 2025). For the nine months, net revenue totaled VND 7,041 billion (up 7.9%) and profit after tax VND 4,737 billion (up 25.1%), equal to 72% and 88% of the 2026 business plan. During the quarter, Vincom Plaza Đan Phượng opened at 100% occupancy and drew about 25,000 visitors per day in its first three days. Nine-month footfall reached 171.1 million visits to shopping centers (up 8.5%) and 20.4 million to commercial streets (up 14.5%).
- Tesla Is Flying in Europe, and We Aren't Talking About the Roadster -- 1 Big Concern Remains
Tesla recorded a record 66,035 vehicle registrations in Europe in September, surpassing its previous high of 60,934 in March 2023; the figure may rise by at least 1,000 once Lithuania and Portugal report. The Model Y led the European market with nearly 41,000 registrations (up 55%), and the Model 3 posted over 25,050, more than doubling its September 2025 volume. However, registrations swung widely during the quarter, with the Model Y at only 5,138 in July, and the September push was helped by inventory shipped from Shanghai. The main concern is that Chinese automakers are following the same export strategy: Chinese brands' registrations rose 104% in September to a 14.5% market share, the highest combined share they have reached, with Leapmotor up 324%.
- Alphabet (GOOGL) Q3 2026 Earnings Call Transcript
Alphabet reported Q3 2026 revenue of $127.6 billion, up 25% year over year, with Google Cloud reaching $30.7 billion (up 103%) on strong demand for AI infrastructure and TPU system sales. Google Search and other revenue reached $63.3 billion (up 12%), YouTube ad revenue $11.2 billion (up 9%), and subscriptions, platforms and devices $14.3 billion (up 11%). Operating income rose 30% to $40.6 billion, but non-GAAP EPS fell to $2.12 from $2.87 due to unrealized investment losses, and free cash flow was negative $9.1 billion, including a $5.2 billion payment for a European Commission fine. Google Cloud's backlog stood at $561 billion, with about 55% expected to be recognized as revenue over the next 24 months. Management warned of a larger FX headwind in Q4, near-term margin pressure in Cloud from using third-party compute capacity, and slower search revenue growth as it laps last year's acceleration.
- Microsoft (MSFT) Q1 2027 Earnings Call Transcript
Microsoft reported first quarter 2027 revenue of $92.3 billion, up 19%, with Microsoft Cloud revenue reaching $63.9 billion (up 30%) and Azure growing 48%. Non-GAAP EPS was $4.89, up 18%, and cash flow from operations rose 29% to $58 billion. Commercial remaining performance obligation reached $677 billion, up 73%, while capital expenditures totaled $45.2 billion, with 75% allocated to short-lived assets such as CPUs and GPUs for AI infrastructure. Management said demand for AI services still exceeds available supply and projected second-quarter revenue of $96 billion to $97.1 billion and capex of over $50 billion. Windows OEM revenue fell 27% due to partner inventory drawdowns and weaker PC demand, and some third-party capacity deliveries were delayed.
- Is Google Losing Search Momentum To AI? Analysts Weigh In As Management Blames Currency Headwinds, FIFA World Cup
Alphabet (GOOGL) shares fell 10% in overnight trading after third-quarter revenue and profit both missed market expectations. Google Search & other revenue grew 12% to $63.3 billion, slowing from 17% in the second quarter, while total advertising sales rose 10.6% to $82.01 billion. Chief Business Officer Philipp Schindler attributed the slowdown mainly to foreign exchange rates, along with weaker spending by some Asia-Pacific retail advertisers affected by the EU's elimination of its de minimis exemption, and an unusually strong second quarter boosted by FIFA World Cup advertising. He also said AI Mode has fewer built-in ads and therefore generates less revenue. Meanwhile, Google Cloud sales rose a record 103% to $30.71 billion and total revenue rose 25% to $127.6 billion; analyst Gene Munster said the 12% search growth was below expectations and estimated growth could land around 11% in the December quarter, versus the 13.5% the Street currently expects.
- World Bank Expert: Old Model Cannot Help Vietnam Become 'Rich'
According to Mariam J. Sherman, World Bank Country Director for Vietnam, Cambodia and Laos, the model of abundant labor, rapid capital accumulation and trade integration helped Vietnam escape poverty but will not take it to high-income status. The working-age population peaked in 2014, so growth must now come from productivity, which is only about $6.7 of value added per worker-hour, less than half of China's level, while the FDI sector (73% of export turnover) has thin links to domestic firms. The World Bank proposes four measures: prioritizing job quality, improving connectivity across markets, people and localities, with about $400 billion needed for transport and energy infrastructure, turning climate risks into growth opportunities, and reforming institutions so the state shifts from planning to enabling. UK Ambassador Iain Frew said the UK-Vietnam Free Trade Agreement and both countries' CPTPP membership are creating new opportunities for businesses.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.