Tech Giant FPT to Set up Own Bank
The Corporation for Financing and Promoting Technology (FPT), Vietnam’s biggest information and technology firm, plans to set up its own commercial bank, the firm said in a statement Wednesday.
The company’s board of management decided to seek permission from authorized agencies to establish the FPT Joint Stock Commercial Bank, in which FPT will invest VND150 billion (US$9.4 million).
The firm will also expand to the finance sector by setting up FPT Fund Management, with paid-in capital of VND36.6 billion (US$2.3 million).
In addition, it will invest VND50 billion (US$3.1 million) to establish the FPT Hoa Lac Hi-tech Park Development Company Limited in Hanoi.
FPT is now the biggest listed firm in terms of market capitalization, valued at VND32.9 trillion on April 12. (Vietnam Economic Times, Labour)
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