Royal Bank, Toscafun, JPMorgan Chase Keen on Vietnam Banking Shares
George Mathewson, CEO of Toscafund, an affiliate under Scotland’s Royal Bank told Vietnamese mass media Mar 23 that Toscafund is truly interested in initial public offerings of Vietnam’s state-owned banks and commercial joint stock banks.
Toscafund said that it is working with several banks in Vietnam to seek investment opportunities and it may use US$200 million out of its current assets of US$10 billion to invest in Vietnam.
Meanwhile, Craig Weeks, the vice chairman of the U.S.’s JPMorgan Chase said JPMorgan Chase will continue its investment plans and support Vietnam’s financial market.
Local analysts said that Vietnam’s stock market was the most decliner in Asia with the banking shares dropping more than 40 per cent over the past months and it is time for foreign giants to bargain hunt.
Vietnam’s shares index closed down 4.51 per cent at 521.07 points as local players continued to sell off on concerns about more collateral shares, particularly the banking shares to be sold in the near future. (Laborer, FPTS)
Vietnamese
