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TCB: 10% Cash Dividend Will Support Bullish Share Performance

Branch Expansion And Cash Dividend Will Support Banking Diversification Ahead

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TCB
AnalystConsensusTarget
Not Invested
Published 24 Aug 2025

Update shared on 10 Dec 2025

Fair value Decreased 1.30%
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1Y
37.7%
7D
-5.6%

Narrative Update on Vietnam Technological and Commercial Bank

Analysts have slightly trimmed their price target for Vietnam Technological and Commercial Bank to approximately 39,700 VND from 40,200 VND, citing modestly lower fair value estimates. These are driven by a marginally reduced future price to earnings multiple, while underlying growth and profitability assumptions remain broadly unchanged.

What's in the News

  • The Board approved a 10% cash dividend for 2024, equivalent to VND 1,000 per share, with a record date on October 01, 2025 and expected payment on October 22, 2025 (Board resolution).
  • The Board approved a transaction and contract with Techcom Securities Joint Stock Company to provide depository agent services for Techcombank's 21st private bond placement in 2025 (Client announcement).
  • The bank is relocating the Yen Phong transaction office under the Bac Ninh branch to a new site on Ly Thai To Street in Bac Ninh province, effective October 13, 2025 (BOD approval).
  • The bank is relocating the Nghe An Branch to No. 175 Le Loi Street, Thanh Vinh Ward, Nghe An province, as part of branch network optimization (BOD decision).
  • The bank is establishing a new Trang Bom Branch at 232-234 Nguyen Huu Canh Street, Dong Nai province, expanding its physical footprint (BOD decision).

Valuation Changes

  • Fair Value Estimate decreased slightly from approximately ₫40,193 to ₫39,672 per share, reflecting a modest downward revision in intrinsic value.
  • Discount Rate edged down marginally from about 12.28% to 12.27%, implying a very small adjustment in the perceived risk profile.
  • Revenue Growth remained effectively unchanged at around 28.74%, indicating no material shift in top line growth expectations.
  • Net Profit Margin was virtually stable at approximately 45.20%, signaling unchanged profitability assumptions.
  • Future P/E declined slightly from about 9.38x to 9.26x, pointing to a modestly lower valuation multiple applied to future earnings.

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Disclaimer

AnalystConsensusTarget is a tool utilizing a Large Language Model (LLM) that ingests data on consensus price targets, forecasted revenue and earnings figures, as well as the transcripts of earnings calls to produce qualitative analysis. The narratives produced by AnalystConsensusTarget are general in nature and are based solely on analyst data and publicly-available material published by the respective companies. These scenarios are not indicative of the company's future performance and are exploratory in nature. Simply Wall St has no position in the company(s) mentioned. Simply Wall St may provide the securities issuer or related entities with website advertising services for a fee, on an arm's length basis. These relationships have no impact on the way we conduct our business, the content we host, or how our content is served to users. The price targets and estimates used are consensus data, and do not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that AnalystConsensusTarget's analysis may not factor in the latest price-sensitive company announcements or qualitative material.