Commonwealth Bank of Australia has divested its remaining 4.4% stake in Vietnam International Commercial Joint Stock Bank for approximately AUD 170 million, enhancing its capital management strategy.

Information on the Target

The Commonwealth Bank of Australia (CBA) has successfully completed the divestment of its remaining 4.4% stake in Vietnam International Commercial Joint Stock Bank (VIB) through the Ho Chi Minh Stock Exchange. This transaction, executed on March 5, 2025, will result in total gross proceeds of approximately AUD 170 million, with settlement anticipated on March 7, 2025.

VIB, established in September 1996, has emerged as one of Vietnam's leading joint stock commercial banks. As of December 31, 2024, the bank reported a charter capital of VND 29,793 billion and total assets amounting to approximately VND 493,000 billion. With a workforce exceeding 12,000 employees, VIB operates 193 branches and transaction offices across 32 key provinces and cities in Vietnam.

Industry Overview in Vietnam

The banking sector in Vietnam has seen robust growth and transformation in recent years, driven by increasing demand for financial services among a rapidly expanding middle class. The sector has been characterized by heightened comp