One week left to submit the plan for compulsory transfer of GPBank and DongA Bank

The State Bank must urgently submit a plan for the compulsory transfer of GPBank and DongA Bank before December 20.

DongA Bank has been under special control for nearly 10 years - Photo: TL

New future expectations for GPBank and DongA Bank

This is the notable content in Resolution No. 233 of the regular Government meeting in November just announced.

Global Petroleum Bank (GPBank) and DongA Bank are the two remaining weak banks that have not had a solution after many years.

GPBank was bought by the State Bank for 0 VND in 2015.

DongA Bank has been under special control since August 14, 2015, after inspection results showed that before 2012, the bank had many violations of the law on financial management, credit granting and other business activities, seriously affecting the financial situation and operations of the bank.

Most recently, in October 2019, DongA Bank held an extraordinary general meeting of shareholders to approve a capital increase proposal.

The number of shares that Dong A Bank plans to issue is nearly 3.35 billion shares. The money raised will be used to offset accumulated losses and improve the bank's financial capacity.

However, the voting result was only 63% of shareholders agreed (according to regulations, 65% agreed to meet the requirement), so the plan to offer shares to supplement charter capital was not approved.

Will finish processing 0 dong banks

Thus, after the two banks in the special control group were acquired by the State Bank at a price of 0 VND, CBBank and OceanBank, and were forced to be transferred to Vietcombank and MB respectively last October, the Government wants to deal with the remaining two banks once and for all.

MB has recently decided to change the name of OceanBank to Vietnam Modern Bank Limited (abbreviated as MBV), and at the same time, send a series of senior leaders to manage this bank.

Also in the resolution, the Government requested the banking sector to promptly implement within its authority or submit to competent authorities a plan to handle Saigon Bank (SCB) - a bank that will be placed under special control from October 2022.

Source: https://tuoitre.vn/con-mot-tuan-de-trinh-phuong-an-chuyen-giao-bat-buoc-gpbank-va-dong-a-bank-20241212231624229.htm