PETALING JAYA: Vietnam’s central bank, the State Bank of Vietnam (SBV), has allowed Public Bank Bhd’s proposal to purchase the 50% stake the latter had not already own in VID Public Bank (VPB) for US$62.6mil (RM228.35mil), Reuters reported.
Upon completion of the acquisition, VID Public Bank will be Public Bank’s wholly-owned subsidiary, it said citing a statement released by the Vietnamese central bank.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!