Dragon Capital hikes stake in VPBank

By Dat Nguyen May 14, 2021 | 09:30 pm PT

Inside a VPBank branch. Photo courtesy of VPBank.

Investment fund Dragon Capital has bought 3.15 million VPBank shares to increase its holding in the lender by 0.13 percentage points.

The Vietnam-focused fund now owns 5.12 percent through several funds led by Vietnam Enterprise Investments Limited, which owns a 1.74-percent stake.

VPB has been one of the best performing banking stocks this year, repeatedly rising to new highs. On Friday, it closed at VND66,600 ($2.90), up 205 percent since the beginning of the year.

The bank earlier this month sold a 49 percent stake in its subsidiary, consumer credit firm FE Credit, to Japan’s Sumitomo Mitsui Financial Group for $1.37 billion.