The Seoul-based financial solutions provider has signed collaboration contracts with commercial lender Sacombank and state-owned VietinBank to collectively roll out a shared point-of-sale (POS) system in Vietnam.
Construction of the mixed-use development has been stalled for years.
While both Vietcombank and BIDV announced significant profit growth, Vietinbank remained quiet and kept secret until the end.
Due to the restricted investment capital and the underexploited project, Vietinbank has asked its shareholders for the partial or whole transference of Vietinbank Tower project.
The deal will raise VietinBank Insurance Co., Ltd´s capital to $28.6 million so as to improve its balance sheet and expand its operations.
In addition to owners' equity, Hoa Phat has mobilized tens of trillion dongs from Vietinbank and Vietcombank to invest in Dung Quat steel complex.
IFC's investment in VietinBank increased more than two times in local currency VND after seven years.
Instead of VietinBank, HDBank is taking requisite steps to acquire PG Bank and the strategic deal is expected to finalize in this September after a merger request to be submitted to the State Bank in this month.
An unknown future holds for PG Bank after the collapse of the merger between VietinBank and PG Bank.
VPBank's profit in 2017 surpassed Agribank and was only lower than that of Vietcombank, Vietinbank and BIDV.
Vietinbank, one of the largest banks in Vietnam has completed requisite procedures for cancelling bond listing on the Singapore Stock Exchange (SGX) since August 8th.
