HANOI: Vietnam Prosperity Joint Stock Commercial Bank said on Monday it has sold a 15% stake for $1.5 billion to Sumitomo Mitsui Financial Group Inc, expanding the Japanese bank's presence in one of Asia's fastest-growing economies.
Following the investment, VPBank, whose business ranges across retail, corporate, consumer finance and wealth management operations, will become Vietnam's second-largest private lender by charter capital, with $5.96 billion.
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