RETAIL BANKING | Staff Reporter, Vietnam

Sacombank to sell 15% stake to Credit Suisse in January

Vietnamese banks are indeed looking to foreign investors for capital support.

According to Bloomberg, Sacombank will start negotiations with Zurich-based Credit Suisse (CSGN) on a sale next month.

In the report, CEO Tran Xuan Huy said, “We want to sell to Credit Suisse as much as the current law allows us to do, which would be 15 percent. The share sale “can happen gradually until the stake reaches the maximum both sides agree on.”

Vietcombank also sold its 15% stake to Mizuho Financial Group as Vietnamese banks look to foreign investors for capital support.

Read the full report here

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