Commonwealth Bank Divests Stake in Vietnamese Bank

Commonwealth Bank of Australia (AU:CBA) has released an update.

The Commonwealth Bank of Australia has divested 10% of its shares in the Vietnam International Commercial Joint Stock Bank (VIB), generating approximately A$320 million in gross proceeds. This move aligns with CBA’s strategy to concentrate on its banking operations in Australia and New Zealand, while retaining a 5% stake in VIB. The transaction is expected to enhance the bank’s CET1 ratio by around 7 basis points.

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