Vietnam will maintain majority control of BIDV, Vietcombank and VietinBank under a new state capital restructuring plan.
Reuters reported that the government has set a state ownership requirement of at least 65 percent for the three banks by 2030.
VietinBank will need to increase its state shareholding from 64.46 percent to 65 percent, a rise of 0.54 percentage points.
BIDV and Vietcombank already exceed the minimum requirement, with government holdings of 76.73 percent and 74.80 percent, respectively.
Agribank will remain wholly state-owned through 2030.
The banking targets form part of a wider restructuring programme approved by Deputy Prime Minister Nguyen Van Thang on 27 October.
The plan covers 21 enterprises, with six designated for restructuring and the remaining 15 expected to retain their existing state ownership levels.
The government has not detailed how it will meet the banking targets.
The Ministry of Finance and the State Bank of Vietnam will oversee the restructuring process, including decisions on its timing and implementation methods.
Featured image: Edited by Fintech News Singapore, based on image by huyvinhnhon via Magnific
