JavaScript is off. Please enable to view full site.

​Warburg Pincus to invest $370 million in Techcombank, marks Vietnam's biggest PE deal

​Warburg Pincus to invest $370 million in Techcombank, marks Vietnam's biggest PE deal

Monday, March 12, 2018, 14:16 GMT+7

Warburg Pincus said it had agreed to invest more than $370 million in Vietnam Technological and Commercial Joint Stock Bank (Techcombank), in what it said was the largest ever private equity investment to date in the Southeast Asian nation.

Share listings and equity offerings are booming in Vietnam as the country speeds up its privatization drive, supported by a strong stock market.

Vietnam’s main stock index rose nearly 50 percent last year, making it Asia’s strongest performer.

“The Vietnamese banking sector is highly under penetrated with strong potential for outsized growth,” Saurabh Agarwal, a managing director at Warburg Pincus, said in a statement.

Techcombank, a 25-year-old privately held bank, says it is one of the largest private sector joint stock commercial banks in Vietnam by total operating income and profit before tax.

“The Vietnamese economy and the banking sector are experiencing tremendous growth right now,” said Ho Hung Anh, Techcombank’s chairman.

Warburg said it is investing in Techcombank through two separate legal entities managed by the private equity firm.

The investment is subject to regulatory approvals. It said the deal brings its total commitment in the country to more than $1 billion.



Read more




Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Latest news