Vietnam's VPBank completes sale of 15% stake to Japan's Sumitomo Mitsui for $1.5b

Vietnam's VPBank completes sale of 15% stake to Japan's Sumitomo Mitsui for $1.5b

Photo credit: VPBank

Vietnam Prosperity Joint Stock Commercial Bank said on Monday it has sold a 15% stake for $1.5 billion to Sumitomo Mitsui Financial Group Inc, expanding the Japanese bank’s presence in one of Asia’s fastest-growing economies.