Ho Chi Minh City Housing Development Commercial Joint-Stock Bank (HDBank) said it is discussing a 30% stake sale with three Japansese finance companies. This was according to a report published by Bloomberg.

Chairwoman Le Thi Bang Tam spoke about the sale during an interview in Hanoi last week. Tam said the bank would be selling the shares to more than one buyer next year. However, the names of the Japanese firms were not revealed, citing confidentiality. Tam also did not disclose the estimated value of the deal, said the report.

According to Vietnamese law, foreign investors are not allowed to own more than 30% of a bank. The maximum stake held by an investor is 20%, Bloomberg said.

Tam said during the interview: "Partnerships with Japanese banks can help us expand business with Japanese companies, and give us assistance in improving our corporate governance. Japan is the biggest foreign investor in Vietnam, with investment and official development assistance inflows rising steadily."