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Public Bank to acquire Vietnam JV

Public Bank of Malaysia has received a 100% foreign-owned bank license from the State Bank of Vietnam as part of the bank’s proposal to acquire the remaining 50% equity capital in VID Public Bank, which is the former’s 50:50 joint venture bank with Joint Stock Commercial Bank for Investment and Development of Vietnam. Public Bank said VPB will become its 100% wholly-owned subsidiary, effective from 1 April and will be renamed as Public Bank Vietnam.

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