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Vietnam Bank aims to raise US$700m selling majority stake
Saigon Commercial Bank, in talks with 6 investors, will be first bank to be majority owned by a foreign entity
Add BT as a preferred sourcePublished Mon, Apr 24, 2017 · 09:50 PM
Ho Chi Minh City
THE first Vietnamese bank granted government approval to sell a majority stake to a foreign investor could attract an investment of at least US$700 million.
Saigon Joint Stock Commercial Bank, the fifth-largest by assets, said it's in talks to draw that investment by selling a controlling stake to a sole foreign investor. The funds will help strengthen its financial products and speed up the resolution of remaining bad debt.
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