The purchase will increase UOB's holding in Southern Bank to 15% from the current 10% that UOB bought in December 2007 for Vnd480 billion $30 million. A 15% stake is currently the maximum amount that a foreign strategic investor is allowed to hold in a domestic financial institution in Vietnam.
Southern Bank was established in 1993 with an initial charter capital of Vnd10 billion. The Ho Chi Minh...
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