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Foreign shareholdings at local banks not surpass 30 percent: SBV   2008-08-20 - VNA

The State Bank of Vietnam (SBV) has confirmed of no increase in foreign shareholdings at Vietnamese banks which are kept at at most 30 percent of charter capital of a local bank. 
 

 
The SBV said according to article 4 of decree 69, foreign shareholders other than credit institutions may hold not more than 5 percent of a local bank’s charter capital. This shareholding limit is 10 percent for foreign credit institutions and 15 percent for foreign strategic partner of local banks. 
 
In special cases, the Prime Minister will decide whether to increase the shareholdings for foreign investors, based on the SBV’s proposals, but the rates will not surpass 20 percent of a bank’s charter capital. 
 
Recently, the SBV has licensed some commercial banks, including the Vietnam Private Bank (VPBank), the joint-stock Southern Bank and the joint stock Southeast Asia Bank (SeaBank) to sell their shares to foreign strategic investors.


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