Vietnam lets HSBC raise Techcombank stake to 20 pct

HANOI, Aug 12 (Reuters) - The Vietnamese government has allowed London-based HSBC Holdings Plc (HSBA.L: Quote, Profile, Research) (0005.HK: Quote, Profile, Research) to raise its stake in partly private Techcombank to 20 percent, the ceiling for foreign ownership in a domestic bank.

The government granted its approval on July 30, under which Hanoi-based Techcombank would sell another 5 percent of stake to HSBC, bringing the foreign bank's ownership to 20 percent, the State Bank of Vietnam said in a statement. (Reporting by Ho Binh Minh; Editing by Ben Tan)