French banking giant lifts stake in Vietnam's Orient Bank
Symbols:
BNPZY
HANOI, Nov 18, 2009 (Asia In Focus via COMTEX) --
BNPZY | Quote | Chart | News | PowerRating -- French bank BNP PARIBAS will
increase its stake in Vietnam's ORIENT COMMERCIAL JOINT STOCK
BANK from 15 to 20 per cent next year, under a memorandum of
understanding signed last week. The French bank became Orient's
strategic shareholder in 2007 with a stake of 10 per cent,
which was raised to 15 per cent through an acquisition in
August.
BNPZY | Quote | Chart | News | PowerRating -- French bank BNP PARIBAS will
increase its stake in Vietnam's ORIENT COMMERCIAL JOINT STOCK
BANK from 15 to 20 per cent next year, under a memorandum of
understanding signed last week. The French bank became Orient's
strategic shareholder in 2007 with a stake of 10 per cent,
which was raised to 15 per cent through an acquisition in
August.
* Orient said its pre-tax profits reached VND252 billion
(US$13.6 million) at the end of October, representing 99 per
cent of the years target.
* BNP Paribas is one of the leading European groups in the
financial and banking sector and ranks among the top 15 largest
banks in the world in terms of scale and capital.
For full details on (BNPZY) BNPZY. (BNPZY) has Short Term PowerRatings at TradingMarkets. Details on (BNPZY) Short Term PowerRatings is available at This Link.
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