TienPhongBank goes public
September 15th, 2008 - According to the State Security Commission, as of September 12th, 2008, Tien Phong Commercial Joint Stock Bank (TienPhongBank) officially became a registered public company at the State Security Commission.
•
21/09/2008
TienPhongBank is listed among the 28 banks that are public on the State Security Commission’s website.
It is the first bank to become public after only more than 2 months of establishment and operation.
TienPhongBank's public registration expresses its commitment to maximize customers' and shareholders' benefits. Customers and shareholders’ interests are better protected since a public company is required to be transparent about decisions, policies as well as to centralize securities deposit. In addition, reports about key shareholders’ shares and penalties concerning unscrupulous transactions (if any) also help to protect investors’ rights.
The bank will also benefit more when mobilizing resources for operations, seizing opportunities as well as sharing risks among shareholders.
Ms. Tran Thi Nguyet Oanh, TienPhongBank’s Deputy Director revealed that after more than 2 months of operation, capital mobilization has seen sustainable growth and as of August 30th, total assets values were double the bank’s capital.
TienPhongBank plans to open branches in Hochiminh City in October and other provinces throughout the country in the coming time.
