The Viet Nam Export Import Commercial Joint Stock Bank (Eximbank) plans to sell its 15 percent stake worth 225 million USD to Japanese strategic partner Sumitomo Mitsui Banking Corporation (SMBC).
The sell off is part of an Eximbank’s plan to raise its chartered capital by 25 percent to more than 3.7 trillion VND (233.3 million USD) from its current 2.8 trillion VND (175 million USD).
Under the plan, the bank will sell an additional 10 percent stake to foreign investment funds.
Eximbank General Director Pham Van Thiet said the bank will receive risk management and technical assistance from large banking and financial group SMBC.
Source: VNA
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