Hana Financial Investment Becomes Second Largest Shareholder of Vietnam BIDV-Affiliated Securities Firm

[Asia Economy Reporter Junho Hwang] Hana Financial Investment has become the second largest shareholder of 'BIDV Securities,' the securities subsidiary of Vietnam's top state-owned bank.

Hana Financial Investment announced on the 25th that it has signed a share acquisition agreement with BIDV and BIDV Securities to target the New Southern policy channel. Through this agreement, Hana Financial Investment will acquire 35% of BIDV Securities shares (a total of 142 billion KRW) from BIDV (79.9%). This transaction will be conducted through a third-party allotment paid-in capital increase. Through this, Hana Financial Investment will become the second largest shareholder.

Hana Financial Investment stated that it plans to actively participate in management going forward. It will work on service improvements such as renewing BIDV Securities' digital platform and expanding the customer base. It will also lead new business ventures such as asset management to build a financial ecosystem. BIDV Securities will use the increased capital to strengthen brokerage, credit financing, and proprietary account investments, as well as invest in IT development, digital transformation, and financial service development.

Lee Jong-seung, Global Group Head of Hana Financial Investment, explained, "By acquiring shares of BIDV Securities, Hana Financial Investment and Hana Financial Group have established a foothold for the New Southern policy, one of our global strategies." He added, "We will strive to create new business opportunities by effectively utilizing the nationwide network of BIDV Bank and Securities along with the financial expertise of Hana Financial Investment."

Meanwhile, Hana Bank acquired shares of BIDV in 2019. Since then, the two groups have expanded their strategic partnership and have made various efforts to overcome profitability limitations.

This content was produced with the assistance of AI translation services.