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Maybank may increase stake in An Binh Bank
Malayan Banking Bhd., Malaysia’s biggest bank by assets, plans to increase its stake in Vietnam’s An Binh Bank, a 15-percent-owned Vietnamese venture, the Star reported, citing a company official.
The bank says the long-term outlook for the economy in Vietnam remains positive even after the recent slowdown, the report said, citing Abdul Wahid Omar, chief executive officer at the Malaysian bank, also known as Maybank.
An Binh Bank, based in Ho Chi Minh City, said in a statement late last month, Maybank may increase its holding to 20 percent in 2009, pending Vietnamese government approval.
Maybank valued the 15 percent stake at 430 million ringgit (US$133 million) in March.
The Kuala Lumpur-based bank, is seeking a stronger foothold in Asia as competition intensifies at home, the lender said in a statement released in March.
Thanhnien
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