Vietnam to set rules on capital increases for banking system

Vietnam is strengthening its financial industry and one of the ways to achieve this is to issue targets for restructuring banks. According to reports, the country’s Ministry of Finance is coordinating with other ministries to set regulations on capital increases for state-owned credit institutions, especially the Bank of Agriculture and Rural Development of Vietnam (Agribank). Ministries and agencies have also been mandated to report their results to the ministry’s Department of Banking and Financial Institutions before November 15 every year so the department can compile the results to send them to the central bank before November 30 every year.