A total foreign ownership ceiling in any Vietnamese bank of 30% has been established through a new decree, issued by the Government on April 20.
The decree said that a strategic foreign investor is allowed to purchase a 15% stake in a domestic bank.
It also said that the Prime Minister, in special cases, can raise that limit for a strategic foreign investor to 20%.
Under the decree, a foreign credit institution is permitted to buy at most 10% in a domestic bank.
In case a foreign credit institution holds convertible banking bonds, which can be changed into shares, the above regulations will also be applied.
The decree also said that strategic foreign investors must wait at least five years after buying stake in the bank to resell their share.
Source: VNA
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