General director of the Bank for Foreign Trade of Vietnam (Vietcombank) Vu Viet Ngoan said the bank and its consultant partner Credit Suisse are building a roadmap for the bank equitisation process. It is expected that by the end of April, a detailed plan on the bank equitisation process will be submitted to the Prime Minister for approval.

In regulation, after the equitisation, the State still holds 70 percent of the bank’s capital, the remaining 30 percent will be sold to domestic investors and strategic partners, and will be sold in foreign markets.

Meanwhile, the Bank for Agriculture and Rural Development of Vietnam (Agribank) held a meeting on equitising and establishing the Agribank financial group.

Agribank will facilitate preparations for equitisation to submit to the Prime Minister. As planned, Agribank will equitise some member companies this year and complete its equitisation process in 2008.