UPDATE 1-Vietnam to allow greater foreign stakes in banks

April 21, 2015 6:53 AM

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HANOI, April 21 (Reuters) - Vietnam is changing rules to allow foreign investors bigger stakes in local banks in its latest move to rebuild a financial sector battered by bad debt, according to the country's prime minister.

The government will soon issue a decree to permit foreigners to buy stakes "above the current 30 percent ceiling", Prime Minister Nguyen Tan Dung was quoted as saying in a government statement late on Monday. He did not elaborate.

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