Overview of Major Stakeholders in Vietnam’s State-owned Banks

The disclosure of key stakeholders in Vietnam’s State-owned banks has been made by VietinBank and Vietcombank among the big four, while BIDV is yet to reveal this information.

Pursuant to Clause 5, Article 49 of the Credit Institutions Law effective from July 1st, multiple credit institutions have initiated the publication of shareholders possessing at least 1% of their charter capital.

Agribank, within the big four state-owned banks, remains entirely state-owned. However, VietinBank and Vietcombank have shared details of shareholders holding 1% or more of their charter capital, whereas BIDV has not done so yet.

BIDV, on August 1st, requested shareholders to provide essential information for the bank’s disclosure, including personal IDs, business registration certificates, details of related individuals/organizations, and the amount and percentage of shares held by shareholders and their affiliates in the bank.

As of June 30th, 2024, BIDV’s Q2/2024 financial report indicated a charter capital of 57 trillion VND, with the state owning 80.99% and strategic shareholder KEB Hana contributing over 8.55 trillion VND, equivalent to 15% of the capital.

VietinBank’s financial report as of June 30th, 2024, noted a charter capital of 53.7 trillion VND with the state holding 64.46% and strategic shareholder MUFG owning 19.73%, making it the largest institutional shareholder.

The roster of shareholders owning 1% or more of VietinBank’s charter capital includes the VietinBank Trade Union with 1.15% and Prudential Vietnam Life Insurance Co., Ltd. with 1.07%, and related parties to Prudential Vietnam holding an additional 0.05%.

Prudential Vietnam also holds 1% or more of the charter capital in ACB and MB. Notably, Prudential Vietnam owns 1.56% of ACB’s charter capital and 1.24% of MB’s charter capital.

Vietcombank’s disclosure highlighted the Singapore Government Investment Fund as the sole shareholder with a stake of 1.67% of its charter capital.

In Vietcombank’s financial report, the bank’s charter capital was reported at 55.891 trillion VND, with the state holding 74.8% and strategic foreign shareholder Mizuho Bank, Ltd. owning 15%.