Australian lender CBA completes sale of of remaining VIB stake

The move marks the Australian lender's full exit from the Vietnamese bank. The transaction was executed on March 5 wit settlement expected to occur on March 7.

Total gross proceeds to be received by CBA from the transaction are approximately AUS$170 million ($107 million).

CBA has been a shareholder in VIB since 2010 and has helped the Vietnamese bank to become one of the top joint stock commercial banks in the country. The transaction is consistent with the CBA's strategy to focus on its banking businesses in Australia and New Zealand

VIB total assets exceeded VND493 trillion ($19.6 billion) at the end of 2024, marking a 20 per cent increase compared to the beginning of the year. The bank’s outstanding credit balance reached VND325 trillion ($12.9 billion), achieving remarkable growth of nearly 22 per cent, the highest among private joint-stock banks.

VIB's revenue last year hit VND20.6 trillion ($820 million) last year, a 7 per cent decrease on-year. Meanwhile, VIB’s pre-tax profit totalled over VND9 trillion ($358.6 million), reflecting a 16 per cent on-year decline.

By reporting total assets exceeding VND493 trillion ($19.6 billion), VIB has sustained its momentum by reinforcing its solid balance sheet and achieving greater operational efficiency. The bank continues to adopt international standards while enhancing its reputation and establishing its position as a top brand in the banking industry.

On February 17, the Vietnam International Bank (VIB) officially launched the Super Yield account on its MyVIB digital banking platform with the message “Awakening the idle cash flow.”

Commonwealth Bank of Australia (CBA) announced on October 29 that it has sold approximately 10 per cent of the shares on issue in VIB via the Ho Chi Minh Stock Exchange.