The Hanoi-based Vietnam International Bank (VIB), with assets of $810 million, applied fo a listing license from the State Securities Commission for its debut on the Hanoi OTC market.
If its application is approved, the bank would be Vietnam's third bank to list on the domestic markets after Sacombank and Asia Commercial Bank.
But unlike the two Ho Chi Minh City-based banks which have sold shares to foreign investors, VIB has yet to take foreign investors on board. The government caps foreign ownership in a listed bank at 30 percent with an individual investor limited to 10 percent.
VIB was founded in early 1996 by a number of institutions, including the state-run Agribank and Vietcombank, Vietnam's largest, and private businessmen. The bank did not say how much of VIB the two state-run banks owned.
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