VIETNAM CHAMBER OF COMMERCE AND INDUSTRY
Liên Đoàn Thương Mại Và Công Nghiệp Việt Nam
Wed, Apr 28, 2021, 07:54:00
Fuel distributor Petrolimex has hired a company to value its 40 percent stake in PGBank to enable its sale, its chairman has revealed without identifying the accounting firm.
"The expectation is that divestment from PGBank will be accomplished in 2021," Pham Van Thanh said at the company’s annual general meeting on Monday.
Earlier efforts to merge PGBank with VietinBank and HDBank failed.
In March, the lender’s management announced the search for a merger partner would cease.
Petrolimex targets revenues of VND135.2 trillion ($5.86 billion) and pre-tax profit of VND3.36 trillion this year, 9 percent and 238 percent higher than in 2020.
