Global private equity major Warburg Pincus has agreed to invest over $370 million in Vietnam Technological and Commercial Joint Stock Bank (Techcombank or TCB), marking the largest ever PE investment in Vietnam to date. The transaction, to be made through two legal entities owned by the PE major, will bring Warburg’s total commitment in the country to over $1 billion.
Techcombank is one of Vietnam’s largest private sector joint stock commercial banks. In a statement, the bank said that the investment from Warburg is part of its equity raising efforts to fund its expansion and further solidify its leading position in Vietnam.
