BNP Paribas denies plans to acquire stake in Techcombank

BNP Paribas has officially denied reports that it is planning to acquire a minority stake in the Vietnamese private bank Techcombank. The denial follows speculation from Reuters suggesting the French lender was in discussions to purchase approximately 15% of the capital for an estimated $2 billion.

Techcombank had reportedly sought a valuation equivalent to twice its book value. While no agreement has been reached and negotiations could extend into 2026 or 2027, BNP Paribas clarified to the Agefi-Dow Jones agency that it has no such project.

The clarification comes amid volatility in the French banking sector. BNP Paribas shares experienced a significant decline, dropping roughly 4% to 5% during recent trading sessions. This downturn was attributed to both the conflicting reports regarding Asian expansion and broader macroeconomic concerns in France, including revised GDP growth estimates and potential debt rating updates.