To acquire 1.19 billion VPB shares, SMBC will pay more than 35.9 trillion dong (US$1.5bil). — VNA/VNS
HANOI: The State Bank of Vietnam (SBV) ratifies Japanese multinational banking financial services institution Sumitomo Mitsui Banking Corp (SMCB) to buy newly issued shares of VPBank (VPB).
Vietnam’s central bank requires SMBC to fulfil its obligations and responsibilities as a foreign investor, specified in the amended and supplemented Law on Credit Institutions 2010, as well as related circulars and decrees.
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