Vietinbank to buy into Lao bank

Vietinbank plans to buy 30 per cent of the shares in the initial public offering of the Development Bank of Laos, which has a charter capital of about US$30-40 million.

Vietinbank hopes to become a strategic shareholder of the Lao bank and also aims to open new branches in both Laos and Germany.

Vietinbank’s total assets in the first half of this year are appraised at VND400 trillion (US$19 billion), up 8.3 per cent compared to the beginning of the year and 44 per cent over the same period last year. Vietinbank plans to raise its charter capital to VND25 trillion ($121 million).

Tags: Lao bank, Vietinbank

Posted by VBN on Jun 18 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