Vietnamplus

Lack of disclosed information, listing plans and risks of non-performing loans are dragging OTC-traded bank stocks down.

Many leading groups and corporations of the Republic of Korea, which operate in banking, finance, electricity, retail sales, and technology, have expressed their interest in cooperation with Vietnamese partners, including FPT Corporation, in the fields of new technologies digital transformation.

The Ho Chi Minh City People’s Court upheld a 17-year jail sentence for Phan Van Anh Vu, Chairman of the Board of Directors of the Bac Nam 79 Construction Company, on the charge of “abusing position and power while performing duties” during an appeal court on June 7.

The State Bank has completed and submitted to the Prime Minister the plan on transferring and restructuring Ocean Bank after previous transfer to foreign investors.

The Ho Chi Minh City People’s Court on April 22 postponed an appeal trial that had been proposed by the HCM City People’s Procuracy to ensure the legitimate rights and interests of defendants and others connected to a case involving losses incurred by Dong A Bank (DAB).

The Investigation Police Agency under the Ministry of Public Security said on December 27 that it has started criminal proceedings against 10 defendants, including former General Director of the Dong A Bank (DAB) Tran Phuong Binh and former DAB Deputy General Director Nguyen Thi Ngoc Van. ​

Former Director General of the Dong A Bank Tran Phuong Binh was sentenced to life in prison by the Ho Chi Minh City People’s Court on December 20 in the trial of 26 defendants who were involved in the loss of over 3.6 trillion VND (153.47 million USD) at the bank.

The Supreme People’s Procuracy has completed an indictment to prosecute Phan Van Anh Vu, former chairman of the board of Bac Nam 79 Construction Joint Stock Company, and 25 others for causing economic losses of up to 3.6 trillion VND (160 million USD) to the Dong A Bank (DAB).

The People’s Committee of the central province of Thua Thien-Hue has announced a plan to preserve French-style architecture works.

General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong has asked the Central Steering Committee for Anti-Corruption to instruct competent agencies to double efforts to ensure progress of investigation, prosecution and judgment of cases.

The Investigation Police Department under the Ministry of Public Security on April 18 issued a decision to prosecute Phan Van Anh Vu, former chairman of the board of Bac Nam 79 Construction Joint Stock Company, for abusing position and power to misappropriate 200 billion VND (8.7 million USD) from the Dong A Bank (DAB).

The economic and anti-corruption police force said it has issued decisions on the arrest and prosecution of Nguyen Thi Kim Xuyen, former Deputy Director General of Dong A Bank.

Dong A Bank has delivered a steady performance under the State Bank of Vietnam's special supervision, since August, recovering nearly 4.2 trillion VND (185 million USD) of its non-performing loans.

Shares fell on the two local exchanges on December 12 as banks suffered from the arrest of top bankers and expectations of a US interest rate hike kept investor confidence low.

The Ministry of Public Security’s police investigation agency has decided to prosecute two former top officials of the HCM City-based Dong A Bank (DongA Bank), it officially announced on December 12.

The State Bank of Vietnam (SBV) has told credit institutions to obey legal regulations on deposit interest rates to ensure safety of institutions and stabilise the local monetary market.

Average lending interest rate in November reduced 0.28 percent to 9.3 percent per year, the highest slide for the past nine months.

Some commercial banks have increased interest rates on Vietnamese dong (VND) deposits between 0.2 percent and 0.4 percent per year, making it the fourth rise since August this year.