Singapore's UOB to take added 5% in Southern Bank
26-JUL-2008 Intellasia | Thoi Bao Kinh Te Vietnam
Jul 26, 2008 - 7:00:00 AM
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State Bank of Vietnam's governor on July 23 issued Document No 6704/NHNN-CNH approving Singaporean United Overseas Bank Limited (UOB) to buy extra 5% into the Southern Bank's chartered capital of over 1.434 trillion dong, bringing the foreign investor's size in the local bank from 10% to 15%.
According to the document, SBV-HCM City arm has responsibility to check and guide SB to carry out the increase of chartered capital from selling shares to UOB under current laws.
Earlier, in the end of 2007, SB sold 10% stake to UOB for 480 billion dong.
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