vietnams-banking-sector-heats-up

Vietnam's banking sector heats up

Deutsche becomes the third bank within a week to announce an investment in a Vietnamese bank.

Sameera Anand

February 02, 2007

It was a hat trick for VietnamÆs banking sector as Deutsche Bank became the third bank to finalise an investment in a local bank after announcements by United Overseas Bank UOB and HSBC. All three transactions have been announced in the same week.

The spate of interest is fuelled by expectations that banking laws in the country - which currently allow a foreign shareholder to own up to 10% of a joint stock commercial bank û will shortly be relaxed to allow 20% foreign ownership.

Deutsche Bank said yesterday it will acquire up to 20% of VietnamÆs Hanoi Building Commercial Joint Stock Bank Habubank and become the single largest shareholder. Deutsche will be entitled...

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