TienPhongBank: Restructuring with Real Money

Abstract

TienPhongBank was established in May 2008 with VND1 trillion as charter capital. Large shareholders included FPT (15% charter capital), Vinare (12.5%) and VMS Mobilfone (12.5%). It was said that while several applications to set up new banks were backed by large firms but went mute in the end, founding shareholders of Tien Phong Bank quickly managed to get its license just before the PM ordered to stop forming new banks.