PROJECT

Projects

Summary of Investment Information

Project Number

41043

Company Name

TIEN PHONG COMMERCIAL JOINT STOCK BANK

Date SPI Disclosed

Apr 24, 2018

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

May 30, 2018

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Nov 15, 2023

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Jun 20, 2018
Signed : Jun 29, 2018
Invested : Dec 12, 2018

Sector

Commercial Banking - SME Finance

Project Description

The investment is in the form of a senior loan of up to US$100 million, consisting of (i) an up to US$60 million IFC A Loan from its own account, (ii) an up to US$22.5 million from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program; and (iii) an up to US$17.5 million syndicated loan, to 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.                                                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation