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 $75 million to create the unit founded in 2018, he said.
Shinsei could not be immediately reached for comment outside business hours.
