The State Bank of Vietnam has approved Asian Commercial Bank (ACB) to sell 10% of its chartered capital to British Standard Chartered Bank. This is the second joint stock bank that has ever been allowed to sell stake to foreign banks.
British Standard Chartered Bank is one the world’s biggest banks which is famous for operating home instalment service. British Standard Chartered Bank is now attempting to strongly promote its operations in the Asian market. ACB is taking the lead among Vietnam joint stock banks. reportedly, ACB in January-May period made a pre-tax profit of 142 billion dong.