Vietnam’s central bank to move on lenders
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.