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Vietnam starts next phase of bank reform with TPBank listing

Nine more in pipeline this year as country seeks foreign investors

A Vietnamese flag flies atop the State Bank building near the offices of Vietcombank and Bank for Investment and Development of Vietnam in central Hanoi.   © Reuters

HO CHI MINH CITY -- Tien Phong Commercial Joint Stock Bank, or TPBank, will debut on Vietnam's main stock exchange on April 19, the first of 10 domestic banks scheduled to list in 2018.

Out of the 31 lenders ordered by the government to list, 17 banks, including TPBank, have still to do so. The State Bank of Vietnam has told them to meet Basel II international bank capital rules by the end of 2020.

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