January 7, 2014 / 2:21 AM / 4 years ago

Vietnam ups foreign investors max holdings in banks

1 Min Read

HANOI, Jan 7 (Reuters) - A strategic foreign investor will be allowed to own a maximum 20 percent of a Vietnamese bank from late next month, from 15 percent now, the government said.

The cap on foreign ownership in a domestic bank remains unchanged at 30 percent, with a 15-percent limit for a non-strategic foreign investor, according to a government decree that will come into effect on Feb. 20.

Until now a strategic foreign investor could hold 20 percent of a Vietnamese bank only if it secures government approval on a case-by-case basis. (Reporting by Ho Binh Minh; Editing by Michael Urquhart)

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