HANOI, July 15 Malaysia's Public Bank Bhd
has agreed to buy from Vietnamese lender BIDV
its stake in their $62.6 million Vietnam-based joint
venture, BIDV said on Tuesday.
Representatives of both banks signed the deal in Hanoi, BIDV
said in a statement. BIDV and Public Bank each hold 50 percent
of VID Public Bank, the joint venture they set up in 1992.
The statement did not give a value for the deal. It said
Public Bank will seek the approval of the Vietnamese government
to operate a bank that would be 100 percent foreign owned.
BIDV is Vietnam's second-largest lender by assets.
(Reporting by Ho Binh Minh; Editing by Miral Fahmy)