Complete SCB restructuring plan before September 15

The Government requested the State Bank to complete the restructuring plan of Saigon Commercial Joint Stock Bank (SCB) before September 15.

This content was stated in the Resolution of the Government's regular August meeting on September 9th. Accordingly, the Government requested the State Bank of Vietnam to effectively implement the plan for the mandatory transfer of weak and specially controlled banks, and to finalize the restructuring plan for SCB before September 15th.

At the same time, this agency must accelerate the increase in charter capital of state-owned commercial banks, effectively handle bad debts, strictly control credit to sectors with potential risks, and severely punish violations according to the law. In addition, the State Bank of Vietnam must increase inspection and supervision, prevent and handle negative acts, corruption, and vested interests in banking activities.

Recently, four struggling banks were compulsorily transferred to four commercial banks. Vietcombank acquired CBBank, renaming it VCBNeo (a digital bank). HDBank acquired DongABank, transforming it into Vikki Bank (a digital bank). MB acquired Oceanbank, renaming it MBV (a digital bank). GPBank was transferred to VPBank. Additionally, SCB, a struggling bank, is currently seeking investors.

SCB was placed under special supervision from October 2022, after many branches and transaction offices of the bank recorded a situation where people came to withdraw money en masse.

In April of this year, the State Bank of Vietnam also announced that it had drafted a report to the Government and the Politburo on the restructuring plan for SCB. Previously, the agency stated that many investors had proposed participating in the restructuring of this bank. By June, Van Thinh Phat Group Joint Stock Company was one of the entities that submitted a proposal, suggesting a 12-year roadmap for addressing the consequences at SCB and currently having $2 billion available.

PV (compiled)

Source: https://baohaiphong.vn/hoan-thien-phuong-an-co-cau-lai-scb-truc-15-9-520446.html