OCBC declines to confirm talk of stake in Vietnam bank
By Loh Kim Chin, Channel NewsAsia
SINGAPORE : OCBC has declined to confirm reports it is buying a 10 percent stake in the Vietnam Joint-Stock Commercial Bank for Private Enterprises, or VP Bank.
But Singapore's third largest bank told Channel NewsAsia it will seek international growth by focusing in ASEAN countries outside Singapore and Malaysia.
In line with the strategy, it is constantly looking for growth opportunities in the region.
According to a Dow Jones Newswires report, OCBC will become the second foreign investor in the privately owned VP Bank, after UK-based Dragon Capital.
The Viet bank did not provide financial details or a timetable for the acquisition deal. - CNA /ct
SINGAPORE : OCBC has declined to confirm reports it is buying a 10 percent stake in the Vietnam Joint-Stock Commercial Bank for Private Enterprises, or VP Bank.
But Singapore's third largest bank told Channel NewsAsia it will seek international growth by focusing in ASEAN countries outside Singapore and Malaysia.
In line with the strategy, it is constantly looking for growth opportunities in the region.
According to a Dow Jones Newswires report, OCBC will become the second foreign investor in the privately owned VP Bank, after UK-based Dragon Capital.
The Viet bank did not provide financial details or a timetable for the acquisition deal. - CNA /ct
posted by SmartYInvestor at 3:39 AM
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