Foreigners breach Asia’s final banking frontier
There are approximately 50 domestic banks in Vietnam; no one is sure of the precise number. The market is dominated by five state-owned banks, previously policy-driven lenders that are now being restructured and dressed up for privatization: Foreign Trade Bank of Vietnam (Vietcombank), Vietnam Bank for Agriculture and Rural Development (VBARD), Mekong Delta Housing bank (MHB), Industry and Commerce Bank of Vietnam (Incombank) and Bank for Investment and Development of Vietnam (BIDV).
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