VNPT transfers finance arm to SeABank

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The Southeast Asia Commercial Joint Stock Bank (SeABank) and Vietnam Post and Telecommunication (VNPT) signed the documents to transfer VNPT finance subsidiary Post and Telecommunication Finance Company Ltd (PTF) to SeABank, by transferring the contributed capital on Friday.

The Southeast Asia Commercial Joint Stock Bank (SeABank) and Vietnam Post and Telecommunication (VNPT) signed the documents to transfer VNPT finance subsidiary Post and Telecommunication Finance Company Ltd (PTF) to SeABank, by transferring the contributed capital on Friday. — Photo danviet.vn

The Southeast Asia Commercial Joint Stock Bank (SeABank) and Vietnam Post and Telecommunication (VNPT) signed the documents to transfer VNPT finance subsidiary Post and Telecommunication Finance Company Ltd (PTF) to SeABank, by transferring the contributed capital on Friday.

Founded in 1998, PTF is one of Viet Nam’s first finance companies, wholly owned by VNPT, with a charter capital of VND500 billion (US$21.8 million) and total assets of VND384 billion recorded at the end of February 2016.

Accordingly, SeABank will oversee all financial business activities, including payment services, financial support, business consultancy, financial investment, and currency trading from VNPT, as well as infrastructure, network systems, and human resources.

It is also responsible for inheriting and developing post-sale services for all customers using financial services at PTFbeginning on June 22 this year. — VNS

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