Vietnam: Korea's KEB Hana Bank eyes BIDV's stake

A BIDV bank card. Visual from the bank's website.

KEB Hana Bank, a subsidiary of Korea’s Hana Financial Group, plans to acquire a stake at Bank for Investment and Development of Vietnam (BIDV) as part of its business expansion, Business Korea reported.

A local financial official on March 8 told Business Korea that KEB Hana Bank was going forward with the acquisition of a stake in the BIDV, one of Vietnam’s four state-run commercial banks. The deal is nearly closed when the final step of the process was approved by Vietnam’s government, the report cited.

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