Transferring 2 banks 0 VND from this afternoon: Ensuring depositors' rights

At the press conference announcing the banking performance results in the third quarter of 2024, Deputy Governor of the State Bank of Vietnam Dao Minh Tu said that this afternoon, the State Bank of Vietnam will compulsorily transfer two banks, CBBank to Vietcombank and OceanBank to MB Bank. The transfer of two zero-dong banks is part of the State Bank of Vietnam's strategy to restructure the banking system, ensuring stability and sustainable development.

“This transfer will help create a stronger banking system, while protecting the interests of depositors and ensuring the safety of the national financial system,” said Mr. Tu.

Deputy Governor of the State Bank of Vietnam Dao Minh Tu at the press conference.

Meanwhile, Mr. Nguyen Duc Long, Deputy Chief Inspector of the Banking Supervision and Inspection Agency (SBV), added that banks will resume normal operations, ensuring safety regulations. At the same time, people's deposits at the two zero-dong banks will be guaranteed before, during and after the mandatory transfer.

Also at the press conference, the SBV pledged to continue to operate monetary policy flexibly to support economic growth. Accordingly, in the context of businesses recovering, the SBV will make adjustments to interest rates and exchange rates in accordance with the actual situation. "We leave open the possibility of reducing operating interest rates in the near future, if conditions permit," said Mr. Tu.

In the third quarter, the State Bank of Vietnam maintained an abundant liquidity environment for the economy. Credit growth was about 9% compared to the beginning of the year, while outstanding loans reached about VND14.7 quadrillion.

Cong Hieu

Source: https://vtcnews.vn/chuyen-giao-2-ngan-hang-0-dong-tu-chieu-nay-dam-bao-quyen-loi-nguoi-gui-tien-ar902370.html