Vietcombank proposes plan for new Lao subsidiary

20:04 | 10/10/2016 Finance Follow english.haiquanonline.com.vn on

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has proposed to its shareholders the establishment of a Lao subsidiary.

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Vietcombank proposes plan for new Lao subsidiary.

The subsidiary would be named Vietnam Foreign Trade Bank Limited in Laos, headquartered in the Lao capital of Vientiane with an initial chartered capital of US$80 million.

Vietcombank’s leader board said that the establishment of the new subsidiary would meet the bank’s expansion policies toward emerging markets.

If the proposal is approved, Vietcombank would increase its total foreign subsidiaries to three.

SBV encourages M&As to restructure banks

The State Bank of Vietnam (SBV) will continue to encourage the practice of mergers and acquisitions (M&A) ...

At the end of June, Vietcombank had two overseas sub-units, including the finance company Vinafico Hong Kong located in Hong Kong and Vietcombank Money Inc located in the US.

Source: Vietnam News

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Vietnam vietcombank Laos subsidiary establishment expansion capital market plan

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