Commercial Banks
Company Overview of Sai Gon Thuong Tin Commercial Joint Stock Bank
Company Overview
No. 266-268 Nam Ky Khoi Nghia Street
Ward 8
Distrcit 3
Ho Chi Minh City,
Vietnam
Founded in 1991
Key Executives for Sai Gon Thuong Tin Commercial Joint Stock Bank
Sai Gon Thuong Tin Commercial Joint Stock Bank does not have any Key Executives recorded.
Sai Gon Thuong Tin Commercial Joint Stock Bank Key Developments
Sai Gon Thuong Tin Commercial Joint Stock Bank intends to divest up to 20% stake to a foreign strategic investor in the 2012-2015 period. Sai Gon Thuong has received approval to raise its registered capital to VND 12.43 trillion ($592.67 million) from the current VND 10.74 trillion. It will issue new shares within one year.
Sai Gon Thuong Tin Commercial Joint Stock Bank (STB) is rumored to be in negotiation to sell stake to Sumitomo Mitsui Financial Group Inc., Saigon Times reported, citing its private source from STB. Sumitomo Mitsui currently holds 15.13% stake in STB.
Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) and Vietnam Export Import Commercial Joint Stock Bank (Eximbank) are looking for a potential merger to create a new giant in Vietnam’s financial system. Pham Huu Phu, Chairman of Sacombank said that the bank was interested to merge with Eximbank. Phu said, “That’s our idea, but we need to do research and outline a suitable road map. This will suit the State Bank’s scheme to restructure the banking system by reducing bank numbers and increase the financial health of the banking system. Then the banking system will have one new bank with comparative advantages to compete with other banks in the region."
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| Type Date |
Target |
|
Merger/Acquisition
June 12, 2012 |
-- |
|
Private Placement
June 11, 2012 |
Sacombank Securities Joint Stock Company |
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To contact Sai Gon Thuong Tin Commercial Joint Stock Bank, please visit www.sacombank.com. Company data is provided by Capital IQ. Please use this form to report any data issues.
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