ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Vietnam's HDBank taps into state oil group through acquisition

On heels of IPO, move follows Hanoi's call for bank sector consolidation

HDBank intends to add many new offices around Vietnam after acquiring PG Bank.

HO CHI MINH CITY -- Vietnam's HDBank will acquire a Petrolimex-backed peer, part of the newly listed lender's strategy to expand its reach and secure its position as one of the country's leading retail banks.

The share-swap deal for Petrolimex Group Commercial Joint Stock Bank, approved by shareholders of both lenders Saturday, is expected to be completed by August, a document sent to the shareholders shows.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more