Maybank completes An Binh stake buy

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has completed the acquisition of 17.8 million shares or 5% in Vietnam’s An Binh Commercial Joint Stock Bank for about 356.3 billion dong (RM66.4mil).

“Currently, we have a 15% stake in An Binh Bank and the additional purchase will raise our stake to 20%,” president and chief executive officer Datuk Seri Abdul Wahid Omar said after a signing ceremony between Maybank and MoneyTree (M) Sdn Bhd to sponsor a year-long financial literacy programme for schoolchildren as well as the Maybank-MoneyTree Young Entrepreneur Start-up Challenger yesterday.