ANZ to sell its Sacombank stake to Eximbank

HANOI: Australia and New Zealand Banking Group will sell its entire 9.6 percent stake in Vietnam's Sacombank to Eximbank, another Vietnamese lender, a senior Sacombank executive was quoted on Thursday as saying.

"Recently the State Bank (of Vietnam) has approved ANZ's transfer of all its shares (9.6 percent of the registered capital) at Sacombank to Eximbank," Chief Executive Officer Tran Xuan Huy was quoted by the Saigon Dau Tu Tai Chinh (Saigon Financial Investment) newspaper as saying.

The transfer would raise Eximbank's total shares in Sacombank to 9.73 percent, Huy said without giving any value of the sale.

Officials at Sacombank, or Saigon Thuong Tin Bank, could not be immediately reached for a comment.