October 10, 2017 / 9:52 AM / a year ago

Vietnam's Sacombank board seeks to switch listing to smaller exchange

FILE PICTURE: A customer talks with Saigon Thuong Tin Commercial Bank's staff at the bank's headquarters in Ho Chi Minh city July 11, 2006. REUTERS/Kham

HANOI (Reuters) - Board members of Vietnam’s Sacombank STB.HM are seeking shareholder approval to switch the bank’s listing to the Hanoi Stock Exchange .HNXI from the Ho Chi Minh Stock Exchange .VNI, a bank resolution on Tuesday showed.

Sacombank, or Saigon Thuong Tin Commercial Joint Stock Bank, is among Vietnam’s biggest private-listed banks. It would be delisted from the Ho Chi Minh Stock Exchange, the country’s main bourse, if shareholders approve the resolution.

The bank, which has had a new chairman since June, did not give a reason or a time frame for the move.

Reporting by Mai Nguyen

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