May 24, 2018 1:56 AM ET

Banks

Company Overview of Saigon Commercial Bank

Company Overview

Saigon Commercial Bank offers personal and corporate banking services. The company was founded in 2012 and is based in Ho Chi Minh City, Vietnam.

927 Tran Hung Dao Street

Ward 1

District 5

Ho Chi Minh City,  

Vietnam

Founded in 2012

Phone:

84 2 839 230 666

Fax:

84 2 839 225 888

Key Executives for Saigon Commercial Bank

Saigon Commercial Bank does not have any Key Executives recorded.

Saigon Commercial Bank Key Developments

Saigon Commercial Bank, Annual General Meeting, Mar 28, 2018

Saigon Commercial Bank, Annual General Meeting, Mar 28, 2018, at 02:00 Coordinated Universal Time. Location: Times Square Building, 57-69F Dong Khoi Street, Ben Nghe Ward, District 1 Hi Chi Minh City Vietnam

Vietnam Bank Aims to Fetch $700 Million Selling Major Stake

The first Vietnamese bank granted government approval to sell a majority stake to a foreign investor could attract an investment of at least $700 million. Sai Gon Joint Stock Commercial Bank, the fifth-largest by assets, said it’s in talks to draw that investment by selling a controlling stake to a sole foreign investor. The funds will help strengthen its financial products and speed up the resolution of remaining bad debt. Saigon Commercial Bank, or SCB, plans to sell more than half of the bank at par value through the issuance of new shares, Chief Executive Officer Vo Tan Hoang Van said. Saigon Commercial Bank has been in talks with six investors, including banks, equity funds and insurance companies from Norway, Indonesia, Taiwan and China, Van said. An unnamed foreign investment fund earlier this year offered to buy a 15% stake, according to Van. The bank also expects intensifying negotiations with two potential investors from China and Indonesia.

Sai Gon Joint Stock Commercial Bank To Sell 50% Of Its Shares To Foreign Investors

Sai Gon Joint Stock Commercial Bank in talks to sell 50% of its shares to foreign investors. Saigon Joint Stock Commercial Bank said recently it had received approval from the central bank to sell more than 50% of its shares to foreign investors. Vo Tan Hoang Van, Chief Executive Officer of Saigon Joint Stock Commercial Bank, said, “The central bank's approval for the share sale and said the bank is in talks with foreign partners. Saigon Joint Stock Commercial Bank is in negotiations with foreign partners to sell more than 50% of its shares after it got approval in principle (from the State Bank of Vietnam). Saigon Joint Stock Commercial Bank is looking for a financial group that can help the bank improve its finances, accelerate its restructuring, settle its bad debt, and draw up a development plan. SCB has found a couple of partners but they are not financial institutions, so Saigon Joint Stock Commercial Bank is feeling helpless.”

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