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RETAIL BANKING | Cesar Tordesillas, Vietnam
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UOB raises stake in Southern Bank

Singapore’s United Overseas Bank has increased its stake in Vietnam’s Southern Commercial Joint Stock Bank to around 19.99 percent, according to Reuters.

 

This was achieved through the subscription and market purchase of an additional 18.75 million shares for $11.3 million.

UOB stated that Southern Bank's net tangible assets stand at $180 million as of July 31.

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