TPB Senior Loan (IFC-41043)

Countries
  • Vietnam
Where the impacts of the investment may be experienced.
Specific Location
National-wide
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 30, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
TIEN PHONG COMMERCIAL JOINT STOCK BANK
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 17, 2019

Disclosed by Bank Apr 24, 2018


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Project Description

Tien Phong Commercial Joint Stock Bank (“TPBank” or the “Bank”). The investment aims to support the Bank to extend lending to SME and retail clients via its digital channels as:            

  • Increase access to finance by promoting technology innovation that motivates other banks to improve existing digital offerings.
  • Enhance connectivity by building market capacity that opens new opportunities for digital banking products and services to help improve the Vietnamese banking sector's competitiveness and promote a cashless economy.

The Project's supported SMEs lending will mainly expose to the Bank's SME customers of wholesale and retail of automobiles, manufacturing, real estate and construction, warehouse and transportation sectors.

People Affected By This Project

(i) Increase access to finance: for underserved segments through market-wide adoption of digital banking solutions that enhance market participation by promoting technology innovation that motivates other banks to improve existing digital offerings.
(ii) Enhance connectivity by greater deepening of financial markets: by building market capacity that opens new market opportunities for digital banking products and services to help improve the Vietnamese banking sector's competitiveness and promote a cashless economy.

Investment Description
  • International Finance Corporation (IFC)

IFC’s loan to TPBank is targeted for on-lending to small & medium enterprises (SME) and retail clients via its digital channels. The investment includes: 

IFC's Loan from its own account: US$60 million 

IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program: US$22.5 million

Syndicated loan: US$17.5 million.                

Private Actors

It was founded on May 5th, 2008. The Bank provides a wide range of products and services to both retail and corporate clients throughout 64 branches and transaction offices, and more than 60 automated LiveBanks across Vietnam. The current main common shareholders of TPBank are: FPT Corporation (8.68%), DOJI Gold and Gems Group (7.60%), Vietnam National Reinsurance Corporation (VinaRe) (5.14%), SBI Ven Holdings (4.61%). TPBank currently has 18 institutional investors and 517 individual investors.                                                   

Contact Information

1/Project Contact:

Tien Phong Commercial Joint Stock Bank 
Ms. Tran Bich Hanh 
Director-Head of Financial Institutions Center 
+84 93 222 7656 
hanhtb@tpb.com.vn 
TPBank Building, 57 Ly Thuong Kiet Str., Tran Hung Dao Ward, Hoan Kiem Dist., Hanoi, Vietnam 
www.tpb.vn 

2/ IFC Contact:

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/