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CBA cleared to lift stake in VIB

Commonwealth Bank is negotiating for the acquisition of a further five per cent stake in Vietnam International Bank, Reuters reports. The central bank announced its approval of the purchase on Monday.CBA confirmed it had approval from the central bank with afr.com. This is now being discussed with VIB.The bank acquired a 15 per cent stake in VIB in September 2010. Six foreign banks, included CBA, have minority stakes in banks in the country.Eighty-five per cent of Vietnam's population is unbanked and the per-capita income is around US$1000.

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