Current limit is 30% and the PM didn’t say what the new limit would be.
He said he will „try“ to make it happen this year, but I think delays are likely.
He also said he’s ready to sell 100% of the Gov ownership in problem banks such as Sacombank (ticker STB), Ocean Bank (unlisted), VNCB (unlisted), GP Bank (unlisted), DongA Bank (unlisted). That’s nothing new, the law allows this for years already, but I guess there’s been no transactions as buyers and sellers can’t agree on price…
Banks have being rallying on rumour of the above for a few days already, and banks are still up today, but we think the share prices went a little ahead of themselves now.
Fundamentals are really good, especially at CTG and VCB, but they aren’t cheap.
Photo: Vietnam Gov.