Hana Financial, one of the leading financial services providers in South Korea, has reportedly purchased a 35% stake in BIDV Securities. Through the acquisition, Hana Financial aims to expand its presence in the growing financial market of Southeast Asia.
BIDV Securities is one of the biggest players in Vietnam’s financial brokerage sector. According to a report published by Yonhap News Agency, the deal, which is valued at 142 billion won ($113.8 million), has made Hana Financial the second-largest shareholder of BIDV Securities.
“Launched in 2011, BIDV Securities is an affiliate of the Bank for Investment and Development of Vietnam (BIDV), the only state-owned commercial bank that is designated by the Vietnamese State Securities Commission as the settlement bank for the Vietnamese stock market,” Yonhap News Agency highlighted in its recent report.
According to Hana Financial, BIDV Securities will become one of the leading digital-driven securities firms in the coming years. Being one of the fastest-growing economic regions in the world, Southeast Asia is home to emerging financial market firms.
Hana Financial Group
Hana is a prominent financial group in the region. It offers a broad range of financial services to clients, including banking and investment management. The Group recently reported its quarterly financial results and saw strong growth across different segments.
Net income for the recent quarter came in at KRW 902.2 billion, which is 8% higher compared to the same period last year. The Group posted core earnings of 2,473.7 billion KRW, up by 12.9% YoY.
“Robust top-line backed by enhanced performance of the key subsidiaries proved strong earning capacity of the group. Bank NIM expansion and loan growth along with diversified fee income streams contributed to record core earnings. Asset quality-focused asset growth strategy ensured benign level of credit cost, securing sufficient buffer against annual target,” the Group highlighted.
Hana Financial, one of the leading financial services providers in South Korea, has reportedly purchased a 35% stake in BIDV Securities. Through the acquisition, Hana Financial aims to expand its presence in the growing financial market of Southeast Asia.
BIDV Securities is one of the biggest players in Vietnam’s financial brokerage sector. According to a report published by Yonhap News Agency, the deal, which is valued at 142 billion won ($113.8 million), has made Hana Financial the second-largest shareholder of BIDV Securities.
“Launched in 2011, BIDV Securities is an affiliate of the Bank for Investment and Development of Vietnam (BIDV), the only state-owned commercial bank that is designated by the Vietnamese State Securities Commission as the settlement bank for the Vietnamese stock market,” Yonhap News Agency highlighted in its recent report.
According to Hana Financial, BIDV Securities will become one of the leading digital-driven securities firms in the coming years. Being one of the fastest-growing economic regions in the world, Southeast Asia is home to emerging financial market firms.
Hana Financial Group
Hana is a prominent financial group in the region. It offers a broad range of financial services to clients, including banking and investment management. The Group recently reported its quarterly financial results and saw strong growth across different segments.
Net income for the recent quarter came in at KRW 902.2 billion, which is 8% higher compared to the same period last year. The Group posted core earnings of 2,473.7 billion KRW, up by 12.9% YoY.
“Robust top-line backed by enhanced performance of the key subsidiaries proved strong earning capacity of the group. Bank NIM expansion and loan growth along with diversified fee income streams contributed to record core earnings. Asset quality-focused asset growth strategy ensured benign level of credit cost, securing sufficient buffer against annual target,” the Group highlighted.
Source: https://www.financemagnates.com/forex/brokers/hana-financial-purchases-35-stake-in-bidv-securities/