M&A activities in the banking sector are set to heat up in 2021, when the Covid-19 pandemic is fully contained and the majority of Vietnamese banks have completed their restructuring processes. As many Vietnamese banks are looking to raise their registered capital to qualify for requirements on capital adequacy ratio (CAR) under Basel II standards, they continue to remain attractive to foreign investors. Vietnamese banks would continue to be attractive investment options for foreign investors. Photo: Pham Hung Given the long-term positive outlook of Vietnam’s economy, the market expects that more banks would raise registered capital by issuing shares through private placements to strategic investors. On November 9, Military Bank slightly increased its foreign ownership limit from 22.9% to 23%. The move was announced after the bank issued nearly 362 million shares to pay dividends for 2019 and increase its charter capital to nearly VND27.98 trillion (US$1.2 billion). LienVietPost Bank has also increased its foreign ownership from 5.5% to nearly 10% along with the announcement of share listing on the Ho Chi Minh Stock Exchange, home to the majority of large-caps. In a similar move, the board of directors of Techcombank agreed to increase the foreign ownership limit from 22.49%… Read full this story
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