SBV moves to restructure even well-performing banks
The State Bank of Vietnam (SBV) plans to deal with six or eight banks in 2015, including efficiently-operating ones, according to Governor Nguyen Van Binh.
The State Bank of Vietnam (SBV) plans to deal with six or eight banks in2015, including efficiently-operating ones, according to GovernorNguyen Van Binh.
The State-run banks will be mergedor with joint-stock ones, while those with poor performance will besold back by the SBV, he said.
The move aims to create banks with bigger operational scale and better performance, he explained.
In the first phase of the banking system restructuring plan from 2011to 2015, the SBV has only focused on handling the worst-operating banks.
The second phase will concentrate on rearrangingnot only weak banks but also healthy ones to enable their strongeroperations, Binh said.
Vietnam currently hasnearly 40 banks, which will be reduced to roughly 20 through merger andacquisition (M&A) by 2017. This will happen based on the bankingsector’s restructuring strategy approved by the Government.-VNA
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