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​Japan's MUFG seeks to raise stake in Vietnam's VietinBank to 50 pct - report

Friday, October 12, 2018, 09:05 GMT+7
​Japan's MUFG seeks to raise stake in Vietnam's VietinBank to 50 pct - report
Vietjet and MUFG representatives witness the strategic agreement signing in Tokyo‎, Japan on June 5, 2017.

HANOI, Oct 11 - MUFG Bank seeks to increase its stake in Vietnamese lender VietinBank to 50 percent, the Vietnam Television (VTV) reported on Wednesday, quoting a senior executive of the Japanese bank.

“We have invested in Vietnam since 1920 and want to increase ownership in VietinBank to 50 percent of registered capital,” VTV quoted MUFG Deputy President Eiichi Yoshikawa as saying.

MUFG Bank now owns 19.73 percent of VietinBank, according to Refinitiv Eikon data. Vietnam caps foreign ownership in banks at 30 percent. 

Reuters

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