Signage for Shinsei Bank Ltd. at its headquarters in Tokyo, Japan, on Thursday, Oct. 14, 2021. The Bank of Japan and Financial Services Agency are assessing if local financial institutions have any remaining Libor-linked contracts that will be difficult to shift to alternative interest rates before the benchmark expires. Photographer: Toru Hanai/Bloomberg
HANOI, April 23 (Bloomberg): Vietnam’s Military Commercial Joint Stock Bank will sell about 49% of its unit in Cambodia to Japan’s Shinsei Bank Ltd. for an undisclosed amount as early as the fourth quarter, according to Chief Executive Officer Luu Trung Thai.
The Hanoi-based bank, known as MB, spent US$75 million to create the unit founded in 2018, he said.
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