The Hanoitimes – M&A in banking sector is forecast to be exciting in the near future as many banks are accelerating to restructure and raise capital to meet Basel II standards’ deadline by 2020 set by the central bank, experts said. South Korean banks target M&A in Vietnam’s banking sector Warburg Pincus expects greater leeway tapping in Vietnam’s finance-banking sector M&A in Vietnam’s banking sector forecast to see big changes in 2019 Merger and acquisition (M&A) in the domestic banking industry is expected to heat up in the near future with total value of deals estimated at some US$2 billion in 2019. Vietcombank will continually sell another 6.5 percent stake from now until 2020. According to analysts from Bao Viet Securities Company, besides the deal of Bank for Investment and Development of Vietnam (BIDV) with South Korea’s KEB Hana Bank announced recently, the banking sector is also expected to see some other possible deals between local banks and foreign investors this year, such as the sales of Commercial Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank)’s 6.5 percent stake and Military Bank’s 7.5 percent stake. After the acquisition of 6.5 per cent stake to Singapore’s GIC Private Limited… Read full this story
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