BIDV sells 15 percent stake to RoK’s KEB Hana Bank

The Bank for Investment and Development of Vietnam (BIDV) will float more than 603 million new shares, or 15 percent of its stake to the Republic of Korea’s KEB Hana Bank under its resolution No.696/NQ-BIDV issued on July 22.
BIDV sells 15 percent stake to RoK’s KEB Hana Bank ảnh 1Transactions at BIDV (Photo: cafef.vn)

Hanoi (VNA) – The Bank forInvestment and Development of Vietnam (BIDV) will float more than 603 million newshares, or 15 percent of its stake to the Republic of Korea’s KEB Hana Bankunder its resolution No.696/NQ-BIDV issued on July 22.

The deal will help BIDV increase its charter capital by more than 20.29trillion VND (873.6 million USD).

Both banks will continue processing required procedures to complete their dealsoon.

BIDV, among Vietnam’s leading lenders by assets, has 1.37 quadrillion VND intotal assets. In the first nine months of the year, it made such achievements asbeing in Global 2,000 list by Forbes-an annual ranking of the world’s biggestand most powerful public company, and having credit rating upgraded one notchfrom B to BB- by the global ratings agency Standard & Poor’s.

As for KEB Hana Bank, it is a member of the Hana Financial Group - one of thelargest financial corporations in Asia. Besides a strong domestic network, thebank has set up 144 transaction points in 24 countries across the world. As ofJune 30, KEB Hana Bank’s total assets worth 308.3 billion USD. Last year, itwas recognised as the best retail bank in the RoK.

Acquiring BIDV’s shares will help the Korean bank expand its presence in theSoutheast Asian country, whose economic performance has been stellar for yearswith many Korean companies venturing into the nation.

According to Vietnamese regulations,foreign ownership ratio at Vietnamese banks is capped at 30 percent of chartercapital. The State currently owns 95.28 percent of BIDV stake. After the sharesale to KEB Hana Bank, the State ownership will be reduced to 80.28 percent. -VNA
VNA

See more

At an automotive exhibition in Shanghai, China. (Photo: AFP/VNA)

Chinese electric vehicles drive back into Vietnamese market

About a decade ago, Chinese car brands like Zotye Z8, Beijing X7, and Brilliance V7 entered the Vietnamese market to limited success. But a new fleet of modern Chinese vehicles began to gain traction in the Vietnam market last year.

Illustrative image (Photo: VNA)

Nearly 16 trillion VND raised through January bond auctions

The January auctions saw a strong preference for 10-year and 15-year bonds, representing 80.2% and 14.8% of the total, respectively. Specifically, 10-year bonds raised 12.81 trillion VND, while 15-year bonds garnered 2.36 trillion VND.

Thang Long ferry at Cau Da port in Ba Ria - Vung Tau province. (Photo: VNA)

Vung Tau - Con Dao high-speed ferry reoperated

The high-speed ferry service connecting Vung Tau city and Con Dao island in the southern province of Ba Ria-Vung Tau and vice versa was resumed on February 7 by Phu Quoc Express JSC after a 5-month suspension.

At the working session between the Vietnam Directorate of Market Surveillance and the US Embassy over counterfeit Sunview-branded raisins in Hanoi on February 7. (Photo: dms.gov.vn)

Vietnam, US tackle counterfeit Sunview-branded raisins

Statistics showed that since 2024, there have been 27 documented cases involving Sunview raisins, resulting in fines of over 536 million VND (21,440 USD), primarily due to the sale of smuggled goods and products of unclear origin.

The VF3 model manufactured by VinFast is the most popular model in Vietnam's market. ( Photo courtesy of the company)

EVs will no longer be exempt from registration fees

Instead of enjoying a zero percent registration fee, battery-powered electric vehicles (EVs) will be required to pay 50% of the fee applicable to internal combustion engine cars with the same seating capacity.

Thuan An Fishing Port (Photo: tuoitrethudo.vn)

Thuan An fishing port opens, boosting Hue’s seafood industry

The second docking area of Thuan An Fishing Port has a minimum cargo handling capacity of 20,000 tonnes per year, and is capable of simultaneously accommodating 500 fishing vessels of at least six metres in length for docking and storm shelter.

Vietnamese prefer buying gold to mark God of Wealth Day (Photo: VNA)

Gold prices up again on God of Wealth Day

Gold prices surged significantly, exceeding the threshold of 90 million VND (3,550 USD) per tael at the opening session of the God of Wealth Day on February 7 (the 10th day of the first lunar month).