Tháng 3 20, 2024
Hanoi, 12 February 2024: Hitting a record $562.5 trillion in deposits from individuals and businesses by the end of last year, Vietnam banking industry is at an all-time high. While the above demonstrates the most noticeable shift in consumer confidence, the sector is also witnessing increased activity in mergers and acquisitions (M&As).
Between 2019 to 2023, Vietnamese banks reported a significant spike in high-value M&A deals. One that grabbed eyeballs was a $1.5 billion investment in Vietnam Prosperity Joint-Stock Commercial Bank (VP Bank) by Japan’s second-largest bank, Sumitomo Mitsui Banking Corporation.
While these deals are just a small fraction of the bigger equation, the industry is being propelled by soaring demands for capital among domestic banks, a booming consumer market and a pressing need for product diversification.
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