Vietnam Sets New State Ownership Targets for Three Major Banks

Vietnam's government has approved a new state capital restructuring plan, establishing a minimum state ownership requirement of at least 65 percent for three prominent banks, BIDV, Vietcombank, and VietinBank, by 2030. This directive underscores an intent to maintain majority state control over these financial institutions, with Agribank also designated to remain wholly state-owned through the same period.

For VietinBank, the new policy mandates an increase in state shareholding from its current 64.46 percent to 65 percent. This required adjustment represents a modest rise of 0.54 percentage points. In contrast, BIDV and Vietcombank already hold government stakes of 76.73 percent and 74.80 percent respectively, positioning them comfortably above the newly established minimum threshold.

The banking targets are integrated into a broader restructuring program, approved by Deputy Prime Minister Nguyen Van Thang on October 27, which encompasses 21 state-affiliated enterprises. Six of these are slated for restructuring, while the remaining 15 are expected to retain their existing state ownership levels. Details on the specific methods or timeline for achieving the banking targets have not been provided, with implementation decisions delegated to the Ministry of Finance and the State Bank of Vietnam.