Commonwealth Bank Divests Stake in Vietnamese Bank
Company Announcements

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.

For further insights into AU:CBA stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Australian Auto-Generated NewsdeskCommonwealth Bank Reveals Capital Adequacy Insights
TipRanks Australian Auto-Generated NewsdeskCommonwealth Bank Reports Strong Quarterly Earnings
TipRanks Australian Auto-Generated NewsdeskCommonwealth Bank Adjusts Stake in Baby Bunting
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App