The Hanoitimes – M&A deals in Vietnam’s finance and banking sector will rise significantly this year, given by an improved business performance of local banks and a government regulation to require banks to meet stricter capital regulations as part of Basel II Accord standards by 2020. Vietnam banks advised to raise risk resilience in digital age Vietnamese banks required to go public by 2020 Capital raising considered key focus for Vietnamese banks in 2019: Moody’s Japan’s MUFG Bank to further invest in Vietnam’s VietinBank Experts anticipated the Vietnamese finance and banking sector will experience a sharp increase in merger and acquisition (M&A) deals in 2019 as positive signals for the surge have been seen right in the first months of the year. Japan’s Mitsubishi UFJ Financial Group wants to invest in VietinBank Early this year, on January 9, Bank for Foreign Trade of Vietnam (Vietcombank) started off with an announcement that it successfully completed a private placement of more than 111.1 million new shares to Singapore’s sovereign wealth fund – GIC Private Limited (GIC), and Mizuho Bank Ltd (Mizuho), one of Japan’s largest financial services providers, raising a total of VND6.2 trillion (US$265 million) equity investment. Following the move,… Read full this story
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