BNP PARIBAS LIFTS STAKE IN VIETNAMESE BANK
HCM CITY, Aug 28, 2009 (AsiaPulse via COMTEX) --
Companies: BNP Paribas (BNPZY),
The French bank BNP Paribas (BNPP) will raise its stake in the Orient Commercial Bank (OCB) from 10 per cent to 15 per cent following a recently-signed agreement between the two sides.
The French banks holding in OCB is expected to rise to 20 per cent after getting permission from the Vietnamese government.
BNPP bought 10 per cent of the OCB in December 2007, officially becoming the Vietnamese banks strategic shareholder.
Both parties discussed the restructuring of the OCB as well its application of information technology and human resources development.
The French bank will lend its expertise so that the OCB can develop its banking cards and other products.
The OCB is scheduled to raise its chartered capital to two trillion VND (US$112 million) in 2009 and to three trillion VND by next year.
BNPP is one of the leading European groups in the financial and banking sector. It ranks among the top 15 largest banks in the world in terms of scale and capital.
(VNA)maz
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Companies: BNP Paribas (BNPZY),
Related terms: bank, banking, commercial, government, human resources, information technology, products, vietnam
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