Warburg Pincus to Invest US$370 Million in Techcombank (Asia)

Source(s): Warburg Pincus

Global private equity fund manager Warburg Pincus has agreed to invest more than US$370 million in Vietnam Technological and Commercial Joint Stock Bank, known as Techcombank. The company, which serves more than five million customers via 315 branches in Vietnam, plans to use the funds to expand its operations and market share in the country. The transaction is subject to regulatory approval.