Monday, April 16, 2007

FPT plans inhouse bank

The Corporation for Financing and Promoting Technology (FPT) has announced plans to expand its operations into financial services and fund management.

The FPT management board will seek permission from relevant State bodies to invest 150 billion VND (9.3 million USD) in establishing the FPT Commercial Joint Stock Bank and 36.3 billion VND (2.3 million USD) in setting up the FPT Investment Fund Management Joint Stock Company.

The board has also voted to establish the FPT Hoa Lac Hi-tech Park Development Co. Ltd with capital of 150 billion VND (9.3 million USD).

In 2006, FPT earned a total of 11.7 trillion VND (727 million USD), a year-on-year increase of 42.4%, and now has 7,000 employees.

Source: VNA

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