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Banks majority-owned or controlled by foreign institutions rose from 4% of assets in 1994 to 22.1% in 1999, to over half in 2000.
The subsidiaries of a limited liability company, wholly or majority-owned, pass dividends between the subsidiary companies to the owning company without being taxed on those dividends.
Today nearly half of the utilities are public enterprises and majority-owned by the central government.
With the award of the license the bank secured preferential treatment for financing of companies that are majority-owned by the government.
Requirement is a majority-owned by at least 95%.
In addition to the parent, the group structure includes wholly owned and majority-owned subsidiaries and associates.
