Commonwealth Bank of Australia Finalizes Divestment from VIB

Commonwealth Bank of Australia ( (AU:CBA) ) has provided an update.

The Commonwealth Bank of Australia has completed the sale of its remaining 4.4% stake in Vietnam International Commercial Joint Stock Bank (VIB), generating approximately A$170 million. This transaction is expected to enhance CBA’s Common Equity Tier 1 (CET1) capital ratio by about 3 basis points, reflecting a strategic move to optimize its capital structure and focus on core operations, potentially impacting its financial stability and shareholder value.

More about Commonwealth Bank of Australia

Commonwealth Bank of Australia (CBA) is a major financial institution providing a wide range of financial services including retail, business, and institutional banking. It operates primarily in Australia but has international interests, such as its previous shareholding in Vietnam International Commercial Joint Stock Bank (VIB).

YTD Price Performance: 4.39%

Average Trading Volume: 1,901,318

Technical Sentiment Consensus Rating: Sell

Current Market Cap: A$263.7B

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