SBIH's Portfolio Company TPBank Forms a Business Alliance with The Towa Bank, Ltd.
SBI Holdings, Inc. ("SBIH") announces that its portfolio company, TienPhong Commercial Joint Stock Bank (head office: Hanoi, Vietnam; CEO: Nguyen Hung; SBI Group's shareholding ratio: 19.9%*; "TPBank"), has entered into a basic agreement to form a business alliance with The Towa Bank, Ltd. (head office: Maebashi, Gunma; President: Kunimitsu Yoshinaga; "Towa Bank"). This is the first time for TPBank to form a business alliance with a Japanese financial institution.
TPBank is a commercial bank established in May 2008 with FPT Group, Vietnam's largest IT company and the SBI Group's investment partner in a jointly operated fund in Vietnam, as a principal shareholder. TPBank is engaged in retail and corporate banking primarily in Hanoi and Ho Chi Minh, and is striving to expand services to Japanese companies and residents in Vietnam. Towa Bank is a local bank having its main business base in Gunma and Saitama prefectures, Japan, and facilitates community-based financial services. Towa Bank has been actively supporting global expansion of its corporate customers who are mainly small and medium-sized enterprises in the local community. Through this business alliance, TPBank and Towa Bank will endeavor to support corporate customers of Towa Bank entering Vietnam.
Details of the business alliance agreement are stated below.
1. Mutually introducing customers, including corporate customers of Towa Bank entering Vietnam and those of TPBank entering Japan, to provide the necessary support
2. Exchanging information related to the economy, social conditions, and regulations in Vietnam and Japan
3. Facilitating personnel exchange between the two banks
4. Co-hosting seminars and business meetings
5. Providing Towa Bank's Japanese corporate customers with TPBank's loans in USD or local currency
[Outline of Towa Bank]
Name: The Towa Bank, Ltd. Representative: Kunimitsu Yoshinaga
Head office: 12-6 Hon-machi, 2-chome, Maebashi-shi, Gunma, Japan
Establishment: June 1917
Capital: JPY 38,653 million (as of 31 December 2013) Number of branches: 94
[Outline of TPBank]
Name: TienPhong Commercial Joint Stock Bank
Representative: Nguyen Hung
Head office: TTC building, Duy Tan Street, Dich Vong Hau Ward, Cau Giay District, Hanoi City, Vietnam
Establishment: May 2008
Capital: VND 5.55 trillion (approximately JPY 26.6 billion, converted at VND 100 = JPY 0.48;
as of 31 December 2013)
Number of branches: Headquarters in Hanoi and 33 branches
* SBI Group's shareholding percentage is as of 31 January 2014, and it corresponds to a total percentage based on the IFRS criteria for subsidiary companies and subsidiary funds of the Group.
***************************************************************************************** For further information, please contact:
SBI Holdings, Inc. Corporate Communications Dept., Tel: +81 3 6229-0126
SBI Holdings Inc is a Japan-based company mainly engaged in the financial business. The Company operates five business segments. The Financial Services segment engages in various finance related businesses, centered on securities related, banking, and insurance businesses in Japan and overseas. The Asset Management segment is engaged in investment management, including the establishment, offering, and management of investment trusts, investment advisory services, and provision of financial products information. The Investment segment includes investment in domestic and overseas information technology (IT), fintech, blockchain, financial, and biotechnology related venture companies. The Crypto-asset segment provides crypto-asset exchange and trading services. The Non-financial segment is engaged in various businesses such as bio-healthcare & medical informatics business, Web3 related business, renewable energy business, and businesses developing in new overseas markets such as Africa.
SBI HOLDINGS, INC. 
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