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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Hana Financial Group Inc.    A086790   KR7086790003

HANA FINANCIAL GROUP INC.

(A086790)
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South Korea's Hana Bank to buy 15% stake in Vietnam's BIDV for around $850 million

07/22/2019 | 06:46am EST

SEOUL (Reuters) - South Korea's Hana Bank has agreed to buy a 15% stake in the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) for 1 trillion won ($850 million), its parent Hana Financial Group said on Monday.

BIDV, Vietnam's second-largest listed bank with a market capitalization of $5.26 billion, said it will issue 603.3 million new shares for the stake sale. It pegged the deal value at 20.295 trillion dong ($874 million).

The stake sale is the latest large investment by a South Korean firm in the Southeast Asian country, after conglomerate SK Group in May agreed to buy a 6.1% of Vietnam's largest firm, Vingroup JSC, for $1 billion.

Vietnam caps foreign ownership in local banks at 30%, but has allowed some overseas banks to open wholly-owned units.

Hana Financial said in a regulatory filing the purchase of the BIDV stake will facilitate its entry into the Vietnamese market and secure sources for its mid- to long-term growth.

Vietnamese banks need as much as $20 billion in the run-up to the adoption of Basel II standards, scheduled for Jan. 1, 2020, Fitch Ratings said in a note last week.

Vietnam's Military Commercial Joint Stock Bank said last week it was seeking to sell a 7.5% stake to one or more foreign investors this year.

South Korea is the largest source of foreign direct investment in Vietnam, which has over recent years become a production base for several companies such as Samsung Electronics and LG Electronics Inc .

($1 = 1,176.27 won)

($1 = 23,217 dong)

(Reporting by Ju-min Park and Khanh Vu; Editing by Muralikumar Anantharaman and Himani Sarkar)

By Ju-min Park and Khanh Vu


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. -2.47% 5920 End-of-day quote.-3.74%
BASE,INC. 1.35% 13560 End-of-day quote.38.93%
BYD COMPANY LIMITED 9.35% 278.4 End-of-day quote.37.01%
COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM -1.44% 44600 End-of-day quote.-6.89%
HANA FINANCIAL GROUP INC. -0.28% 36250 End-of-day quote.5.07%
LG CORP. 3.27% 110500 End-of-day quote.26.29%
LG ELECTRONICS INC. 0.28% 178000 End-of-day quote.31.85%
MILITARY COMMERCIALBANK -1.56% 25200 End-of-day quote.9.57%
PUSAN CAST IRON CO., LTD. 1.23% 739 End-of-day quote.2.78%
VINGROUP -0.19% 104800 End-of-day quote.-3.14%
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Financials
Sales 2020 8 293 B 7,53 B 7,53 B
Net income 2020 2 453 B 2,23 B 2,23 B
Net Debt 2020 - - -
P/E ratio 2020 4,27x
Yield 2020 5,72%
Capitalization 10 292 B 9 329 M 9 345 M
Capi. / Sales 2020 1,24x
Capi. / Sales 2021 1,23x
Nbr of Employees 12 754
Free-Float 96,1%
Chart HANA FINANCIAL GROUP INC.
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Hana Financial Group Inc. Technical Analysis Chart | A086790 | KR7086790003 | MarketScreener
Technical analysis trends HANA FINANCIAL GROUP INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Average target price 44 546,15 KRW
Last Close Price 35 300,00 KRW
Spread / Highest target 44,5%
Spread / Average Target 26,2%
Spread / Lowest Target -3,68%
EPS Revisions
Managers and Directors
NameTitle
Jung-Tai Kim Co-Chairman & Chief Executive Officer
Seong-Bok Yoon Co-Chairman
Seung-Yeol Lee Vice President-Group Finance
Won-Goo Park Independent Director
Young-Joo Ham Vice Chairman & Executive Vice President