Financial expert Dr. Nguyen Tri Hieu said to reach the regional level, a bank must have total assets of at least US$50 billion and equity of about US$5 billion.
Contrary to all predictions, economists have reassured the public that the weaker dong will not worsen the public debt burden of the state.
Some international institutions have predicted that the dong will depreciate by 5% this year, while economists have urged the government to devalue the currency by more than 10%.
Foreign banks, especially those from Asia, are strengthening their foothold in Vietnam to cater to a growing number of multinational companies and crowd out local lenders.
As the greenback has been soaring against the dong in recent weeks, financial commentators have suggested this may be a result of dollar speculation in the forex market.
The central bank’s recent move to devaluate the Vietnamese dong is expected to shore up Vietnam’s exports while curbing its imports.