Singapore’s UOB raises stake in Southern bank

Singapore’s United Overseas Bank said on Wednesday it has increased its stake in Vietnam’s Southern Commercial Joint Stock Bank to around 19.99 percent

Singapore’s United Overseas Bank said on Wednesday it has increased its stake in Vietnam’s Southern Commercial Joint Stock Bank to around 19.99 percent through the subscription and market purchase of an additional 18.75 million shares for $11.3 million.

The net tangible assets of Southern Bank were $180 million as of July 31, UOB said in a statement. – Reuters

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Sep 8 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