Vietnam to raise ceiling on foreign holdings in banks
Hanoi
VIETNAM is changing rules to allow foreign investors bigger stakes in local banks in its latest move to rebuild a financial sector battered by bad debt, according to Prime Minister Nguyen Tan Dung.
The government will soon issue a decree to permit foreigners to buy stakes "above the current 30 per cent ceiling", Mr Dung was quoted as saying late on Monday. The 30 per cent cap covers total foreign shareholdings and limits a single foreign strategic investor to a one-fifth stake. That has proved unattractive for many foreign lenders which see little incent…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
JPMorgan talking with investors about two synthetic risk transfers
HSBC says growing Chinese wealth fuels client investments in US
Money laundering accused Su Baolin to plead guilty after being handed 3 more charges
UBS flags 'serious' concern about new Swiss capital requirements
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Lloyds bank says quarterly profits sink on higher costs