Holdings Ltd. subsidiary, was among four winners in bidding to buy a stake in Vietnam's Asia Commercial Bank (ACB).

Others were South Korea's LG Merchant Bank Corp., Dublin-listed Vietnam Fund Ltd. and Ho Chi Minh City-based Dragon Financial Holdings, ACB deputy director Trinh Kim Quang said.

Connaught and Jardine are Bermuda-registered.

ACB, based in Ho Chi Minh City, is the largest of about 50 Vietnamese banks allowed to have private shareholders.

Connaught, LG Merchant and the Vietnam Fund each bought eight percent stakes for $2.1 million. Dragon bought six percent for $1.6 million.