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Eximbank grants shareholder certificate to Japanese partner   2008-07-02 - VNA

Vietnam’s Export and Import Commercial Joint Stock Bank (Eximbank) on July 1 handed over a shareholder’s certificate to Japan’s Sumitomo Mitsui Banking Corporation (SMBC).


SMBC previously became Eximbank’s strategic shareholder, buying up to 15 percent of the bank’s stakes to the tune of 225 million USD.

The Japanese partner pledged to cooperate with Eximbank in developing retail banking services and trade financing, as well as share its business administration experiences, including those related to risk management in line with international standards.

Apart from SMBC, Eximbank got the nod from the State Bank of Vietnam to sell 10 percent of its shares to three other foreign investors.

VOF Investment Ltd. Co from Virgin Islands is permitted to own 5 percent of the bank’s chartered capita, while Mirae Asset Exim Investment Limited from the Republic of Korea and Mirae Asset Maps Opportunity Vietnam Equity Balanced Fund will hold 4.5 percent and 0.5 percent, respectively.

The move helped raise Eximbank’s ownership capital to 12.63 trillion VND by the end of June, the largest amount among commercial joint stock banks in Vietnam.

 


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