Bank for Foreign Trade of Vietnam (Vietcombank) has fetched a hefty profit of some VND8.3 trillion, or around US$400 million, for selling shares to Japan’s Mizuho Corporate Bank (MHCB) as its strategic partner. Vietnam’s second biggest bank in terms of market capitalization signed a strategic cooperation agreement with MHCB on September 30 selling 15% of its shares to the latter. The deal helps... 

Vietcombank, the nation’s largest listed bank by market value, has completed its four-year search for a strategic foreign investor by clinching a deal to sell a 15% stake for US$567.3 million to Japan’s Mizuho Corporate Bank Ltd. The contract with Mizuho Corporate Bank Ltd., a wholesale-banking unit of Mizuho Financial Group Inc., will further boost the financial position of the Joint Stock Commercial... 

Bank for Foreign Trade of Vietnam, commonly known as Vietcombank, has just got the central bank’s green light to sell a 15% stake to Japan’s Mizuho Bank, a deal when concluded will substantially lever up the local bank’s equities. A document of approval was issued and sent by the State Bank of Vietnam to Vietcombank on Tuesday. Sources said an official agreement would be signed this Friday between... 

Japan’s Mizuho Corporate Bank is expected to buy an up to 20 per cent stake in Vietcombank, sources familiar with the matter told Reuters, in a deal worth more than $500 million, marking Vietnam’s largest-ever inbound acquisition. Foreign investment in Vietnam has seen an uptick of deals, with multi-national corporations, private equity and hedge funds scooping up stakes in companies,... 

The dollar firmed against the yen in Asia on Wednesday, as investors’ risk sentiment improved after Tokyo stocks performed more strongly in early trading, dealers said. The dollar fetched 83.87 yen in Tokyo morning trading, up from 83.56 in New York late Tuesday. The euro eased to $1.4472 from 1.4477. The single European currency rose to 121.42 yen from 120.93. “It looks like the yen-buying... 

Foreign bank branches are raising their equity to fund foreign direct investment projects in Vietnam. The central bank last week announced its approval of Huanan Commercial Bank, Deutsche Bank AG and Overseas Chinese Banking Corporation to raise their registered capital in the country. Of which, Huanan Commercial Bank branch in Ho Chi Minh City will increase its registered capital from $15 million... 

HCMC – Foreign bank branches in Vietnam will find it harder to give out loans as their lending operations will be restricted by the new law on credit institutions that will take effect early next year. The law, which was passed on June 16 this year by the National Assembly, specifies the maximum credit line for a single customer is based on the capital of foreign bank branches, not their mother...