BNP Paribas inked an agreement to raise its stake in Orient Commercial Bank from 15% to 20% after obtaining approval from the central bank.
The French bank will acquire 27 million shares issued by OCB to increase its chartered capital from VND2.73 trillion to VND3 trillion.
BNP Paribas has been the strategic foreign investor of OCB since 2007. The two banks now have strengthened cooperation in the area of trade finance, helping OCB to link with trade centers of BNP Paribas in 80 countries worldwide.
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