Agribank to sell stake in PVcomBank

The offering will be made on August 2 at Agribank Securities Joint Stock Company, and starting price will be VND11,666 ($0.51).

As of the end of March, PVcomBank had two major shareholders, Vietnam Oil & Gas Group with a 52 percent holding and Morgan Stanley with a 7 percent holding.

PVcomBank has total assets of over VND185 trillion, reported pre-tax profits of over VND10 billion in the first quarter of this year and has a bad debt rate of more than 3 percent.