Nhan Dan – The State Bank of Vietnam (SBV) approved the plan to restructure Tien Phong Bank (TPB) on July 2.
According to the plan, TPB will co-operate with its two largest shareholders, DOJI and FPT, to expand its business to gold trading and providing funding for technology firms.
The TPB will also focus on lending to enterprises in support industries and agricultural production, as well as providing a wide range of modern banking and financial services.
The SBV has required that TPB adhere to the roadmap outlined in its restructuring plan and submit a progress report to the central bank by the next quarter.
The TPB was founded in 2008 and currently has charter capital of VND3 trillion (US$144 million).