July 22, 2019 / 9:19 AM / a month ago

S.Korea's Hana Bank to buy 15% stake in Vietnam's BIDV bank for $850 mln

SEOUL, July 22 (Reuters) - South Korea’s Hana Bank has agreed to acquire a 15% stake in the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) for 1 trillion won ($850.14 million), its parent Hana Financial Group said on Monday.

The purchase of the stake in Vietnam’s second largest listed bank will facilitate the South Korean lender’s entry into the Vietnamese market and secure sources for its mid- to long-term growth, Hana said in a regulatory filing. ($1 = 1,176.2700 won) (Reporting by Ju-min Park; Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below