VPBank on Thursday announced the completion of its deal to sell a 49 per cent stake in its FE Credit to Japan’s Sumitomo Mitsui Finance Group (SMFG) in a transaction.
VPBank on Wednesday signed an agreement to sell 49 per cent stake of its FE Credit to Japan’s Sumitomo Mitsui Finance Group (SMFG) in a transaction that value the non-bank lender at US$2.8 billion.
The Vietnamese Government would continue to a favourable business environment to encourage foreign investors, including those from Japan, to do long-term business in Viet Nam, said Deputy Prime Minister Trinh Dinh Dung.
The National Financial and Monetary Policy Advisory Council will
concentrate on dealing with the reorganisation of credit institutions
and State-owned enterprises, and handling bad debts during the rest of
the year.
