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KB Card in talks for entering Vietnamese microfinance market
By 최희석Published : Sept. 12, 2016 - 10:27
[THE INVESTOR] South Korea’s KB Kookmin Card is in talks for taking over Vietnamese microfinance company HANDICO Finance Company, local news reported on Sept. 11.
HANDICO Finance Company is a subsidiary of the state-run construction firm Hanoi Housing Development and Investment Corporation (HANDICO).
According to reports citing unnamed finance industry sources, KB Kookmin Card is in talks with HANDICO for taking over the microfinance company. KB is said to be focusing on developing measures for reducing HANDICO Finance’s contingent liabilities.
This is KB Financial Group ’s latest move for expanding its presence in Southeast Asia.
Earlier this year, KB Capital established a joint venture in Laos, and has been working with Indonesia’s Bank Central Asia since March.
By Choi He-suk (cheesuk@heraldcorp.com)
HANDICO Finance Company is a subsidiary of the state-run construction firm Hanoi Housing Development and Investment Corporation (HANDICO).
According to reports citing unnamed finance industry sources, KB Kookmin Card is in talks with HANDICO for taking over the microfinance company. KB is said to be focusing on developing measures for reducing HANDICO Finance’s contingent liabilities.
This is KB Financial Group ’s latest move for expanding its presence in Southeast Asia.
Earlier this year, KB Capital established a joint venture in Laos, and has been working with Indonesia’s Bank Central Asia since March.
By Choi He-suk (cheesuk@heraldcorp.com)
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