VTN and Partners is honored to support Union Bank of Taiwan and Vietnam Bank For Industry And Trade Securities Joint Stock Company in their first deal of 2024.
Congratulations to the parties on the success of their long-term cooperation and the multitude of transactions over the years.
Union Bank of Taiwan was the third private-owned bank approved by the government to be established in the awakening of banking liberalization and globalization. The founders of the Bank shared a common interest of running a perpetual business and together they set up the preparatory office on Mar. 29, 1989 and business operation initiated on Jan. 21, 1992. The Bank was officially listed on the OTC on Sep. 19, 1995 and the Taiwan Stock Exchange Corporate on Jun. 29, 1998, and has now become a widely acclaimed and recognized listed company. The Bank has set up the Ho Chi Minh City Representative Office in Vietnam and Hong Kong Representative Office in Hong Kong for internationalization on February 25, 1998 and August 24, 1999, respectively. To expand business channels and the scale of operations, the Bank has acquired Chung Shing Bank unconditionally on March 19, 2005.
Vietnam Bank for Industry and Trade Securities Joint Stock Company (Industry and Trade Securities Company – VietinBank Securities) is one of the oldest and most prestigious securities companies in Vietnam. The company was established under Decision No. 126/QD-HĐQT-NHCT1 dated September 1, 2000 of the Board of Directors of Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) with the initial name of Bank Securities Company Limited Vietnam Industry and Trade. Since July 1, 2009, the Company officially transformed into a joint stock company model with the name Vietnam Bank for Industry and Trade Securities Joint Stock Company under License of Establishment and Operation No. 107 /UBCK-GP dated July 1, 2009 issued by the State Securities Commission.
The team led by our Partner Nguyen Thanh Nghiep advised this transaction.