Maybank holds 15 percent stake in ABBank

Malaysia ’s top lender Maybank officially became a strategic partner of the An Binh Joint Stock Commercial Bank (ABBank) on Sept 24.

The Malaysian bank has paid over 1.5 trillion VND to purchase almost 40.59 million shares of the ABBank, or 15 percent of the local bank’s charter capital.

This move has helped increase the ABBank’s charter capital to more than 2.7 trillion VND.

In the near future, the two banks will cooperate in formulating business strategy, expanding local networks, studying the possibility of linking the two banks’ ATMs, and developing banking services.

Maybank has also committed to sharing experiences in personnel training, and to providing a range of consultancy and information technology solutions.

VNA

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