Bank for Foreign Trade of Vietnam (Vietcombank) has divested capital in Shinhan Vina Bank and made a hefty profit from the deal, allowing the latter to be merged into Shinhan Vietnam Bank. The board of directors of Vietcombank last week approved to transfer its 50% stake in Shinhan Vina Bank to Shinhan Bank as its South Korean partner in the joint venture bank. Vietcombank enjoyed a lofty profit of... 

Shinhan Financial Group, the biggest financial firm in the Republic of Korea (RoK), has decided to buy up the stakes of the Bank for Foreign Trade of Vietnam (Vietcombank) in the joint venture Shinhan Vina Bank. Founded in 1993, Shinhan Vina Bank was originally named First Vina Bank, of which Vietcombank held a 50 percent stake, the Korea First Bank possessed 40 per cent, and the Daewoo Securities...