Vietcombank buys 1m shares in Phuong Nam Bank

05-Jun-2006 Intellasia | 04/Jun/2006 Sai Gon Giai Phong | Thanh Nien | 8:29 AM Print This Post

The Vietcombank Securities Co has inked a deal to buy one million shares worth dong 59 billion (US$3.68 million) from the HCM City-based Phuong Nam Joint-Stock Bank.
The company belongs to the Vietnamese state-owned foreign trade bank, aka Vietcombank.
The Phuong Nam, which has a chartered capital of 580.4 billion dong (US$36.2 million), had earlier sold a 10% stake to the US-based Cathay Bank.
It has been certified by the US’ Union Bank of California and Wachovia as the best Vietnamese bank in international settlement.

 


Category: Stocks

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