RELEASED DATE 22 Jul 2019
Accordingly, BIDV will issue 603,302,706 stocks as private placement to South Korean partner KEB Hana Bank. Total value of the deal is VND20,295,103,029,840. With the stock purchase, KEB Hana Bank will hold a 15-percent stake in BIDV.
BIDV and KEB Hana Bank will carry out required procedures in accordance with laws of the two countries to finalize the deal soon.
Established in 1957, BIDV is the largest lender in Vietnam with total assets as of 30 June 2019 reaching over VND1.37 quadrillion. BIDV operates in a variety of fields such as banking, insurance, securities, financial investment, etc. with a network of over 1,000 branches and transaction offices as well as commercial presence and representative offices abroad.
BIDV is appreciated by domestic and international organizations with prestigious awards: Top 2,000 world’s largest companies; Ranking 307/500 in the world's most valuable banking brands table; BIDV's long-term issuer rating is upgraded to BB- from B+. The bank is also honored with "Best retail bank in Vietnam" and "Best SME bank in Vietnam" awards, among others.
About KEB Hana Bank:
KEB Hana Bank is a member of Hana Financial Group - one of the largest financial groups in Asia. KEB Hana Bank boasts a wide network in Korea and 144 transaction points in 24 countries, including: 110 in Asia - Pacific, 10 in Europe and the Middle East, and 24 in the America. As of 30 June 2019, KEB Hana Bank had total assets of USD308,303 million. In 2018, KEB Hana Bank was honored as the best retail bank in Korea.
For further information, please contact:
Branding and Communication Department – Bank for Investment and Development of Vietnam JSC.
- Tel: (+84)24. 22205256 - Fax: (+84)24. 22200399 - Website: www.bidv.com.vn