Thai bank to buy out Vietnam’s joint venture bank
Prime Minister Nguyen Tan Dung approved the proposal put forward by the
State Bank of Vietnam (SBV) for Thailand-based Siam Commercial Bank
(SCB) to purchase Vinasiam Bank (VSB) and open a branch in Vietnam.
Prime Minister Nguyen Tan Dung approved the proposal put forward by the
State Bank of Vietnam (SBV) for Thailand-based Siam Commercial Bank
(SCB) to purchase Vinasiam Bank (VSB) and open a branch in Vietnam.
He appointed the SBV to handle the buyout procedures.
Founded in 1995, Vinasiam Bank is a joint-venture owned by three shareholders: the Vietnam Bank for Agriculture and Rural Development (Agribank), SCB and Thailand’s Charoen Pokphand Group (CP).
The acquisition is expected to revamp the VSB, which has not been operating effectively and failed to provide the required charter capital.-VNA
He appointed the SBV to handle the buyout procedures.
Founded in 1995, Vinasiam Bank is a joint-venture owned by three shareholders: the Vietnam Bank for Agriculture and Rural Development (Agribank), SCB and Thailand’s Charoen Pokphand Group (CP).
The acquisition is expected to revamp the VSB, which has not been operating effectively and failed to provide the required charter capital.-VNA
You should also see
Vietnam becomes biggest rice supplier for Singapore
Vietnam has for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD (26.55 million USD) worth of rice in the first three months of this year, an increase of 80.46% over the same period in 2023, winning 32.03% of the market share, according to the Vietnam Trade Office in Singapore.
See more
Business
Lam Dong strives to develop tea industry towards sustainable development
The Central Highlands province of Lam Dong aims to develop its tea industry to 2030 towards sustainable development by improving efficiency and fostering links between tea production, processing, and consumption. The province is also striving to replace aging tea plantations with high-quality tea varieties to enhance productivity.
Business
Vietnam treasures multifaceted cooperation with Côte d'Ivoire: Deputy FM
Vietnam always attaches importance to and wishes to bolster multifaceted cooperation with Côte d'Ivoire – its traditional friendship partner in Africa, Deputy Minister of Foreign Affairs Nguyen Minh Hang has said.
Videos
Foreign investment driven towards new breakthrough phase
Vietnam has so far drawn nearly 500 billion USD in registered FDI capital after nearly four decades of opening up its economy, with investment quality improvement considered a key task for a new breakthrough phase ahead.
Business
Quang Ninh attracts additional 115 million USD from Japan investors
The Quang Ninh Economic Zone Authority (QEZA) presented investment certificates to two Japanese projects worth 115 million USD in total at a conference held at Song Khoai Industrial Park (IP) on April 19.
Business
Central bank plans to auction gold bars on April 22
The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
