Mizuho eyeing 20% stake in Vietcombank

Mizuho Financial Group Inc. is in final talks to buy a stake in Vietcombank for as much as ¥60 billion.

The transaction may be completed by next month, the source said.

Foreign banks are investing in Vietnam to tap demand for credit in the Southeast Asian nation even as it struggles to contain inflation nearing 21 percent. Commonwealth Bank of Australia and Singapore's United Overseas Bank Ltd. won approval to raise their stakes in Vietnamese banks earlier this month.

Masako Shiono, a spokeswoman for Mizuho, declined comment.

The Wall Street Journal earlier reported that Mizuho is the preferred bidder to take a 15 percent stake for about $500 million. Mizuho and bigger rivals Sumitomo Mitsui Financial Group Inc. and Mitsubishi UFJ Financial Group Inc., all based in Tokyo, are expanding in Asia as lending shrinks at home.

Vietcombank, the country's biggest publicly traded lender by market value, said May 17 it is reviving plans to sell as much as a 20 percent stake to overseas investors by early next year.

Follow the link for more news on

Also Read

Hong Kong’s investment bankers kicked to the curb as lenders tighten belts

Korean regulators visit Hong Kong to discuss short-selling monitoring

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia