Vietnam allows some banks to have up to 49% foreign ownership

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HANOI :Vietnam's government said some private banks can increase their foreign ownership to up to 49 per cent from 30 per cent after they took over struggling financial institutions as part of the government's plan to restructure the banking system.

The government did not name any eligible banks in the statement posted on its website, but said the exemption did not apply to state-owned commercial banks.

FILE PHOTO: People ride motorcycles in front of the headquarter of the State Bank of Vietnam in Hanoi, Vietnam, November 19, 2024.

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Article Details

Category: EconomyBusiness

Markets: SingaporeVietnam

Topics: Hanoi State Part Commercial Banks Took Cent Government Bank Foreign Vietnam

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-20 @ 14:21:17 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 274 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 27187852

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