Commercial Banks Must Have At Least Two Institutional Founding Shareholders

The State Bank of Vietnam (SBV) provided that a commercial bank must have at least two institutional founding shareholders. Founding shareholders will bear full responsibility for the legality of capital contributions, financial support pledge for the bank in case of capital or payment difficulty. They must not be founding shareholder, equity owners, founding members and strategic shareholders of other credit institutions.

 

Within five years dating from the date of licensing, founding shareholders must jointly hold at least 50 percent of charter capital of the bank at the date of establishment. Institutional shareholders must hold at least 50 percent of the stake held by founding shareholders.

 

Individual founding shareholder must be a Vietnamese citizen (holding the Vietnamese nationality). A business manager must have his company make a profit in three straight years from the year of bank licensing. If the founding shareholder is a commercial bank, its asset must exceed VND100 trillion.

 

If it is a foreign bank branch, its parent bank must have total assets of at least US$20 billion in the preceding year and does not commit any legal violation in five straight years from the year of licensing.