Viet­nam’s cen­tral bank to move on lenders

China Daily (Canada) - - BUSINESS -

The State Bank of Viet­nam, the coun­try’s cen­tral bank, an­nounced onWed­nes­day that prob­lems with five poorly-per­form­ing com­mer­cial banks would be dealt with defini­tively in 2017. The five weak banks are VNCB, OceanBank, GPBank, DongA Bank, and Sa­com­bank. The cen­tral bank has al­ready bought back three of them, in­clud­ing VNCB, OceanBank, and GPBank, the cen­tral bank’s deputy chief in­spec­tor Nguyen VanHung told re­porters. In 2015, the cen­tral bank took over all the shares from the three trou­bled lenders due to their man­age­ment weak­ness, se­ri­ous risks, and fail­ure to find part­ners or de­vise fea­si­ble re­form plans.

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