Customers go into a Sacombank transaction point. The bank has been approved to increase foreign investors' equity holding ratio to 30 per cent. — Photo vir.com.vn

HA NOI (Biz Hub) ― This week, Sacombank (STB) received the State Securities Commission's approval to increase foreign investors' equity holding ratio from 10 per cent to 30 per cent of its total equity.

This was reported by Dien dan Doanh nghiep (The Business Forum), citing company sources.

The 30-per-cent ratio is the maximum level of total stake offered to foreign investors in a bank, as stipulated by the current regulations. The bank had petitioned for the adjustment since February, in a bid to improve the liquidity of STB shares on the stock market.

The bank plans to hold an annual shareholder meeting in HCM City, on March 25. A merger with Phuong Nam Bank, or Southern Bank, will be an important issue scheduled to be discussed at the event.

On Friday, STB shares closed 0.1 points down at VND20,400, or US$0.97, per share on the HCM City Stock Exchange. ― VNS