Credit Suisse has been reappointed to advise state-controlled Vietcombank, one of Vietnam’s biggest and oldest banks, on the proposed sale of a 20-per-cent stake to foreign investors.

The Swiss bank advised Vietcombank, which is 90.7 per cent owned by the state, on its abortive plan to attract a foreign strategic investor in 2007, when the government’s high asking price scared off potential buyers.