Gov’t stops 0 dong purchase of weak banks

The Government decided no longer to purchase weak credit institutions at 0 dong in a resolution issued in April.

Three commercial banks namely GPBank, OceanBank, CBBank have been purchased at 0 dong by the central bank

In case that underperformance banks have been put under special surveillance and failed in implementing rehabilitation measures, they will be transferred to new investors or banks with good financial ability.
If the transfer is unable to implement, weak banks will see their operation narrowed gradually to dissolve and terminate operation.
Organizations and individuals causing deep debts, capital and property losses must bear responsibility for the consequences they caused and repairing them.

By Lam Nguyen – Translated by Hai Mien

Other news

Most view

HCMC Party Chief Nguyen Thien Nhan (2nd, L) and standing deputy chairman of HCMC People’s Committee Le Thanh Liem (L) talk to professors from MIT Sloan School in the US on December 13 (Photo: SGGP)

HCMC high level delegation works with MIT, Harvard Kennedy

Within the framework of a working visit to the US, the high level delegation from Ho Chi Minh City led by City Party Leader Nguyen Thien Nhan last night visited and worked with leaders of the Sloan School of Management under the Massachusetts Institute of Technology (MIT) and Harvard Kennedy University.


Garment, textile obtain highest trade surplus value in export items

After the US withdrew from the talks on Trans-Pacific Partnership (TPP), Vietnam’s garment and textile export met with difficulties in the first two quarters this year. However the industry has posted the record high trade surplus value taking the lead in export items.

Self - introduction

Stock market

Shares rise amid growing caution

Shares extended gains on November 23 but caution appeared among investors after the VN-Index hit its decade-high.