Vietnamese bank BIDV is in talks to sell a 15-20% stake to a long-term foreign investor in the banking sector, and 10% to another overseas investor in 2016, the chairman of the bank said.

"State ownership would be kept at 65%," Reuters quoted BIDV chairman Tran Bac Ha as saying.

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However, he did not disclose name of any investors BIDV has been in talks or by when in 2016 the stake sales would be done.

It would depend on the performances of Vietnam’s stock market and BIDV shares, Bac Ha told Reuters.

Currently, Vietnamese banks are allowed to have a foreign shareholding of up to 30%, with a single strategic partner allowed a maximum 20%.

BIDV’s registered capital has increased by 12% to nearly $1.44bn after completing a merger with state-owned Mekong Housing Bank in May 2015, the banks’ senior executive vice-president Tran Phuong said.

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