One more joint stock commercial bank licensed

One more joint stock commercial bank, the Tien Phong Bank, has just been granted an operation license from the State Bank of Vietnam.

Under the license, the bank, headquartered at FPT Building in Cau Giay district, Hanoi, has a charter capital of VND 1 trillion and will have a lifespan of 99 years.

The bank’s three founding shareholders include the Corporation for Financing and Promoting Technology (FPT), the Vietnam National Reinsurance Joint Stock Corporation (VINARE) and the Vietnam Mobile Telecom Services Company (VMS).

It is allowed to carry out banking activities including capital mobilisation, credits, payment and budgetary services and others.

Early last month, the State Bank of Vietnam has also granted an operation license to Lien Viet Bank which has a registered capital of VND 3.3 trillion, becoming the second largest among joint stock commercial banks by capital.

ND

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