Vietnam Prosperity Joint Stock Commercial Bank said on Monday it has sold a 15% stake for $1.5 billion to Sumitomo Mitsui Financial Group Inc , expanding the Japanese bank's presence in one of Asia's fastest-growing economies.
Following the investment, VPBank, whose business ranges across retail, corporate, consumer finance and wealth management operations, will become Vietnam's second-largest private lender by charter capital, with $5.96 billion.
"The investment is a part of VPBank's plan to replenish capital since 2022 and helps the bank achieve growth target," VPBank said in the statement released after the signing ceremony.on holding stakes in banks, a move that may make the banking sector less attractive to foreigners. Sumitomo Mitsui, Japan's second-largest banking group is seeking to capture growth in Asian emerging markets through acquisitions, spurred by limited business opportunities at home with ultra-low interest rates and an ageing population.Shares of Hanoi-based VPBank have risen 18.16% this year, valuing the lender at around $6.04 billion, while its net income jumped 55.6% to $774.30 million in 2022.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Congress revisits approval for Iraq invasion, recalling change of heart on VietnamIn terms of domestic politics, the Iraq War followed the trajectory of the Vietnam War, which also relied on a resolution supporting the use of military force that Congress passed and later repealed.
Consulte Mais informação »
Noh Hong Chul says his scar from the motorcycle accident in Vietnam is likely permanent | allkpopNoh Hong Chul gave updates on his motorcycle accident in Vietnam.Recently, a YouTuber KOITV posted a video featuring Noh Hong Chul, saying he treate…
Consulte Mais informação »
Vietnam vets reflect on war as 50th anniversary is markedThree local veterans look back across the decades and reflect on what the divisive war meant to them personally and to their country.
Consulte Mais informação »
San Jose’s Vietnam War memorial will mark 10th anniversaryThe Sons of San Jose ceremony on March 30 will include the reading of the names of all 142 residents who lost their lives during the war.
Consulte Mais informação »
Dothan Vietnam vet saved last American flag flown at Da NangThe American flag flying in front the empty headquarters command building at Da Nang, Vietnam, was spotted by the company commander as he drove his jeep around the compound for
Consulte Mais informação »
Vietnam sends ship to track Chinese vessel patrolling Russian gas field in EEZ -dataA Vietnamese ship monitored a Chinese Coast Guard vessel on Saturday in a Russian-operated gas field in Vietnam's South China Sea exclusive economic zone (EEZ), data show - the latest Chinese patrol in a pattern stretching more than a year.
Consulte Mais informação »