SMBC terminates capital alliance with Vietnam Eximbank

It will liquidate its entire equity ownership in the bank.

Sumitomo Mitsui Banking Corporation is terminating its capital alliance with the Vietnam Export Import Commercial Joint Stock Bank, or Vietnam Eximbank.

SMBC and Vietnam Eximbank had earlier terminated their strategic alliance earlier in March 2022. SMBC has since entered into a business partnership with the Vietnam Prosperity Joint Stock Commercial Bank in May 2022.

“Since then, SMBC has been engaging in ongoing deliberations regarding the future status of our ownership stake in Vietnam Eximbank. As a result of those deliberations SMBC came to the conclusion that we will liquidate our entire equity ownership in Vietnam Eximbank,” the Japanese banking giant said in a press statement.

ALSO READ: Real-time cross border payments edges closer to reality with ISO 20022

SMBC said that it has decreased its equity ownership in Vietnam Eximbank to less than 5%.

Moving forward, SMBC said that it will continue efforts to further enhance its Vietnam growth strategy through collaborations with Vietnam Prosperity Joint Stock Commercial Bank.

Follow the link for more news on

Sumitomo Mitsui Banking Corporation

Also Read

Taiwan’s Hua Nan’s asset quality to remain sound through 2025

Robust employment, stable housing market anchors CUB’s profits

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