Commonwealth Bank of Australia (CBA) today announces that it has completed the sale of its remaining 4.4% shareholding in Vietnam International Commercial Joint Stock Bank (VIB) via the Ho Chi Minh Stock Exchange (the Transaction).
The Transaction was executed on 5 March 2025 and settlement is expected to occur on 7 March 2025.
Total gross proceeds to be received by CBA from the Transaction are approximately A$170 million. The Transaction is expected to deliver a pro forma uplift to the Group’s CET1 ratio of approximately 3 basis points on an Australian Prudential Regulation Authority basis, based on the Group’s Risk Weighted Assets as of 31 December 2024.
About VIB
VIB was established in September 1996 and has grown to become one of the leading joint stock commercial banks in Vietnam.
As of 31 December 2024, VIB's charter capital is VND 29,793 billion and total assets is approximately VND 493,000 billion. VIB currently has more than 12,000 employees at 193 branches and transaction offices in 32 key provinces/cities across Vietnam.
