vietnam-increases-strategic-ownership-levels-in-local-banks

Vietnam increases strategic ownership levels in local banks

The government allows foreign strategic investors to own up to 15% of a local bank, but the ownership level for foreign bank investors remains at 10%.
In a move that doesnÆt satisfy all who want more access to Vietnam, the communist government announced on Saturday April 21 that foreign strategic non-bank investors will be allowed to raise their stake in VietnamÆs domestic banks from 10% to 15%. However, the maximum stake that a foreign bank can own in a local bank remains capped at 10%. The decree also left unchanged the total foreign ownership ceiling of 30% in any Vietnamese bank.

Vietnam is supposed to be opening its banking sector thanks to entry into the World Trade Organisation in January û but some bankers say this latest move isnÆt quite up to speed. ôWe thought they would increase the stake for...
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