Vietnam to maintain 65% state stake in major banks under restructuring plan

Vietnam's authorities have set a floor of 65% state ownership for major banks, enshrining government control over the nation's strategic financial infrastructure. The ownership threshold represents a key pillar of the country's broader state capital restructuring initiative, which aims to optimise the role of state enterprises in the economy while maintaining decisive influence over systemically important institutions.

The policy signals Hanoi's commitment to retaining command over banking sector operations, particularly among the largest lenders that serve as conduits for government financing priorities and economic policy implementation. By anchoring minimum state stakes, policymakers seek to balance the need for operational efficiency and market-oriented reforms with safeguards for national financial stability.

The measure is one component of a comprehensive programme to recalibrate state capital across major enterprises and financial groups. Vietnamese authorities have been progressively restructuring their portfolio of state-owned entities in recent years, seeking to enhance governance standards and capital efficiency while preserving state leverage in sectors deemed strategically vital to national interests.

The 65% threshold applies specifically to major banking groups, ensuring state entities retain super-majority voting rights and decisive control over corporate governance and strategic direction. This approach reflects Vietnam's broader economic model, which combines market mechanisms with state stewardship of key sectors.