Joint Stock Banks Allowed to Buy Back Their Shares
The State Bank of Vietnam, the country’s central bank, said on its Web site it issued a document Thursday saying that public joint stock commercial banks are allowed to buy back their shares for treasury shares.
Those banks which want to repurchase their shares back must have sufficient legal capital, show how, when and prices to buy.
Banks are not allowed to buy shares back in case they are suffering losses or overdue debts, in process of offering shares to public or splitting shares.
Banks must take responsibility for risks arisen from the purchase, the central bank said. (Vietnam Economic Times, SBV)
Vietnamese
