Gov't agrees to extend BIDV equitisation process
Permanent Deputy Prime Minister Nguyen
Sinh Hung has agreed to give the Bank for Investment and Development of
Vietnam (BIDV) more time in the process of equitisation.
Permanent Deputy Prime Minister Nguyen
Sinh Hung has agreed to give the Bank for Investment and Development of
Vietnam (BIDV) more time in the process of equitisation.
The Deputy PM also set a deadline for the bank to complete its assets evaluation by December 31, 2009.
At the end of last year, Deputy PM Hung approved BIDV’s proposal on completing its assets evaluation on December 31, 2008 and asked the bank’s Board of Directors to conduct the equitisation in 2009. However, the time-line of the plan needed to be adjusted due to unexpected market fluctuations.
Established in 1957, BIDV is the country’s second largest bank, accounting for 13 percent of the banking system’s total property in late 2008.
In the first half of 2010, the bank plans to equitise about 30 percent of its statutory capital, including 20 percent to be sold to strategic investors.
As it was with the Bank for Foreign Trade of Vietnam (Vietcombank) and the Vietnam Bank for Industry and Trade (Vietinbank), who have completed their equitisation process and listed their shares on the stock market, investors eagerly await BIDV to follow suit./.
The Deputy PM also set a deadline for the bank to complete its assets evaluation by December 31, 2009.
At the end of last year, Deputy PM Hung approved BIDV’s proposal on completing its assets evaluation on December 31, 2008 and asked the bank’s Board of Directors to conduct the equitisation in 2009. However, the time-line of the plan needed to be adjusted due to unexpected market fluctuations.
Established in 1957, BIDV is the country’s second largest bank, accounting for 13 percent of the banking system’s total property in late 2008.
In the first half of 2010, the bank plans to equitise about 30 percent of its statutory capital, including 20 percent to be sold to strategic investors.
As it was with the Bank for Foreign Trade of Vietnam (Vietcombank) and the Vietnam Bank for Industry and Trade (Vietinbank), who have completed their equitisation process and listed their shares on the stock market, investors eagerly await BIDV to follow suit./.
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