Joint-stock banks allowed to buy their own shares

Joint-stock banks are permitted to buy their own shares after registering to operate as public companies.

The State Bank of Vietnam (SBV) on August 7 made public the decision in an office dispatch, codenamed 7138/NHNN-CNH, that includes the guideline on the implementation.

Joint-stock banks will decide by themselves on buying back their shares and be fully responsible for the risks possibly arising from their action, said the SBV document.

The operations must run in line with SBV rules and other relevant regulations, it concluded.

VNA

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