VCBS To Buy 1 Million Shares Of Southern Bank

Investors trading at VCBS. (Photo: T.C)

Vietcombank Securities Company Ltd. (VCBS) has bought 1 million shares of Southern Joint-stock Commercial Bank (Southern Bank) at VND 59,000 per share, or VND 59 billion in total.

VCBS, Vietcombank’s wholly-owned subsidiary, has the chartered capital of VND 60 billion. Currently, VCBS is the only company to provide stock trading services on the Internet via Cyber Investor 2.0 system.

Southern Bank has the chartered capital of VND 580.42 billion. Its total assets go over VND 5,000 billion with the VND 6,907.4 billion of total capital raised and VND 5,290 of total lending.

Previously, Southern Bank reached a deal to sell 10% of its shares to US-based Cathay Bank.

Southern Bank is also recognized by Union Bank of California, and Wachovia to be the outstanding bank in international payment.

Reported by Tuong Chau

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