EVN remains strategic partner in ABBank

An Binh Commercial Joint Stock Bank (ABBank) has lately confirmed that Electricity of Vietnam (EVN) Group would lower the holdings ratio in ABBank to 20 percent but would still remain the strategic partner in the bank.
At present, EVN has kept 25 percent of total capital in ABBank. The bank’s other large shareholders including Maybank, Geleximco and IFC (in the near future) all pledged to maintain long-term cooperation relationship with ABBank in order to improve the bank’s management capacity and set up development strategy in the future.

Up to now, ABBank has reported fulfilling 100 percent of targeted profit plan in 2011.

The bank aimed to become a multi-functional bank in 2012, especially in retail banking activities. – Vietbiz24

Tags: ABBANK, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Dec 31 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry