Business

Banks rely on foreign partners to raise capital

One of the ways in which banks are planning to increase their charter capital this year is to have their strategic partners acquire a greater stake – from the current 10 to 20 percent.

However, it is not very clear if this move, aimed primarily at meeting new minimum charter capital requirements, will work for everyone.

Most of the applications that have been made in this regard are yet to be approved, and experts say the general gloomy economic outlook would make many foreign banks more cautious with their investments.