foreign-banks-continue-to-invest-in-vietnam

Foreign banks continue to invest in Vietnam

Deutsche Bank completes the purchase of a 10% stake in VietnamÆs Habubank as HSBC finalises its 15% investment in Techcombank.
Yesterday both Deutsche Bank and the Hongkong Shanghai Banking Corporation announced that they were either investing in or upping their stakes in Vietnamese banks.

Deutsche Bank says that it has completed the purchase of 10% of the issued capital of Hanoi Building Commercial Joint Stock Bank Habubank. This follows the announcement in February 2007 of an agreement to buy the shares pending administrative and regulatory approvals.

At the same time, HSBC announced that it had completed its acquisition of an additional 5% stake in Vietnam Technological and Commercial Joint Stock Bank Techcombank for $33.7 million. That deal - which increases its total stake to 15% - was first announced in July.

Both banks issued...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222