河内，9月25日：据四位知情人士透露，日本三井住友银行（SMBC）正就增持越南私营银行VPBank股份进行深度谈判。
HANOI, Sept 25 : Japan's Sumitomo Mitsui Banking Corp (SMBC) is in advanced talks to increase its stake in Vietnamese private lender VPBank, four people familiar with the negotiations said.
知情人士称，作为三井住友金融集团旗下的银行业务部门，SMBC正商讨将持股比例从15%提升至约20%。因信息尚未公开，上述人士拒绝透露姓名。该日本银行于2023年以15亿美元收购了原始股份。
SMBC, the banking arm of Sumitomo Mitsui Financial Group, is discussing raising its holding to approximately 20 per cent from 15 per cent, the people said, declining to be identified because the information is not public. The Japanese lender acquired the original stake in 2023 in a deal worth $1.5 billion.
两名知情人士表示，双方意在年内完成交易，但在估值问题上仍存在分歧。其中一位人士称，谈判已持续数月。
The two sides intend to complete the transaction this year but remain at odds over valuation, two of the people said. One said negotiations have been underway for months.
增持股份将加深SMBC对亚洲增长最快银行市场之一的敞口，使其能更多地接触越南消费者和企业，而越南正以快速经济增长、家庭财富增加和外资流入增多为目标。
An expanded stake would deepen SMBC's exposure to one of Asia's fastest-growing banking markets, giving it greater access to Vietnamese consumers and businesses as the country targets rapid economic growth, rising household wealth and increased foreign investment.
本周，指数编制机构富时罗素将越南股市升级为新兴市场地位，这一进展预计将吸引海外资本并支撑估值。
Vietnam's stock market was upgraded this week to emerging-market status by index provider FTSE Russell, a development expected to attract overseas capital and support valuations.
一名知情人士透露，VPBank寻求大幅高于股价的溢价，这与2023年交易一致，当时SMBC支付的价格比市场价值高出约40%。
Vietnam's stock market was upgraded this week to emerging-market status by index provider FTSE Russell, a development expected to attract overseas capital and support valuations. VPBank is seeking a substantial premium to its share price, one of the people said, in line with the 2023 transaction, when SMBC paid about 40 per cent above market value.
第二名知情人士称，SMBC不愿支付该溢价，并内部讨论过通过公开市场购买而非定向增发来增持股份的可能性。SMBC和VPBank均拒绝置评。
SMBC has been reluctant to pay that premium and has internally discussed the possibility of increasing its holding through open-market purchases rather than a private placement, the second person said.
4月，VPBank表示正与未具名的外国投资者商讨定向增发事宜。
Both SMBC and VPBank declined to comment.
次月，总部位于瑞士的顾问公司Turicum Investment Management在一份报告中称，预计VPBank将通过出售新发行股份筹集约7亿至9亿美元资金。按当前市价计算，5%的股份价值约4.25亿美元。
In April, VPBank said it was discussing a private placement of shares with unspecified foreign investors. The following month, Switzerland-based advisory firm Turicum Investment Management said in a report that VPBank is expected to raise about $700 million to $900 million from the sale of the newly issued stake.
当三井住友银行（SMBC）宣布2023年交易时，表示该投资将使该行能够为在越南运营的日本客户和跨国公司提供额外的金融服务。
At current market prices, a 5 per cent stake would be worth about $425 million. When SMBC announced the 2023 deal, it said the investment would allow the bank to provide additional financial services to Japanese clients and multinational firms operating in Vietnam.
这个东南亚国家拥有由日本、韩国和西方企业运营的主要出口导向型制造业务，包括本田、三星和英特尔。
The Southeast Asian nation hosts major export-oriented manufacturing operations run by Japanese, Korean and Western firms, including Honda, Samsung and Intel.
三井住友银行当时还表示，该投资将有助于加强越南繁荣银行（VPBank）的零售银行业务，包括财富管理和信用卡业务。
SMBC also said at the time that the investment would help strengthen VPBank's retail banking business, including wealth management and credit cards.
消息人士之一表示，计划增加持股的一个目标是让三井住友银行更容易接触越南客户，包括保险和信贷市场的客户。
One objective of the planned increase in ownership is to give SMBC easier access to Vietnamese customers, including in the insurance and credit markets, one of the sources said.
依赖出口的越南设定目标，到2030年实现至少10%的年增长率，押注于基础设施支出和不断壮大的中产阶级带来的消费增长。
Export-reliant Vietnam targets annual growth of at least 10 per cent through 2030, betting on infrastructure spending and rising consumption from its expanding middle class.
日本的瑞穗金融集团和三菱UFJ银行，以及韩国的外换银行（KEB Hana Bank），持有越南主要贷款机构的战略性少数股权。
Japan's Mizuho Financial Group and MUFG Bank, along with South Korea's KEB Hana Bank, hold strategic minority stakes in major Vietnamese lenders.
外资持有越南银行股份通常上限为30%，而单个外国投资者及其关联方通常限制在20%的持股比例。
Foreign ownership of Vietnamese banks is generally capped at 30 per cent, while an individual foreign investor, and its affiliates, is typically limited to a 20 per cent stake.
越南繁荣银行（VPBank）是个例外，因其参与了对较弱贷款机构GPBank的重组，获准将外资持股上限提高至49%。
VPBank is an exception, having been allowed a higher foreign ownership ceiling of 49 per cent after it participated in the restructuring of a weaker lender, GPBank.