Official compulsory transfer of two zero-dong banks

Chính thức chuyển giao bắt buộc hai ngân hàng 0 đồng - Ảnh 1. — CBBank has officially been compulsorily transferred to Vietcombank - Photo: CTV

At a press conference on the banking sector's performance in the third quarter, held on the afternoon of October 17th, the leaders of the State Bank of Vietnam made this statement.

Responding to a question from Tuoi Tre Online regarding official information on the mandatory transfer of the two zero-capital banks, Mr. Nguyen Duc Long, Deputy Chief Inspector of the State Bank of Vietnam's Inspection and Supervision Agency, stated that the mandatory transfer ceremony for the two zero-capital banks will take place on the afternoon of October 17th (4 PM).

Specifically, Construction Commercial Bank (CBBank) was transferred to Vietcombank. Ocean Commercial Bank (Oceanbank) was transferred to MBBank .

So, how are the rights of depositors protected after mandatory transfer? Mr. Long replied that the goal of mandatory transfer is to help weak banks overcome difficulties, ensure safety, and comply with legal regulations.

"Before, during, and after the transfer process, depositors' funds are fully secured," Mr. Long affirmed.

Regarding the rights of the receiving bank, according to Mr. Long, the receiving bank is also required to receive support measures as stipulated by regulations.

There is one remaining zero-interest bank, and Dong A Commercial Bank will be transferred as soon as possible. Currently, work is being actively implemented according to the approved plan.

Earlier, at the regular government meeting in September, Governor of the State Bank of Vietnam Nguyen Thi Hong stated that the banking sector had directed credit institutions to actively review their financial situations and prepare the necessary documents for the handover ceremony of the two zero-capital banks.

For the remaining two banks, the State Bank of Vietnam is also directing its units to quickly finalize the reports for submission to the Prime Minister.

In its 2022 report to the National Assembly Standing Committee, the Government stated that it had implemented various measures to address the three banks subject to mandatory acquisition, namely CBBank, OceanBank, and Global Petroleum Bank (GPBank), as well as one bank under special supervision, Dong A Bank.

Of these, CBBank and OceanBank, two banks subject to mandatory acquisition, have already developed solutions.

Source: https://tuoitre.vn/chinh-thuc-chuyen-giao-bat-buoc-hai-ngan-hang-0-dong-20241017150123837.htm