Vietnamplus

Tens of trillions of VND is expected to be poured into Vietnamese banks by foreign investors in 2019 and 2020 as negotiations on many deals are running smoothly.

The Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has pledged to finish settling all of the 100 trillion VND (4.38 billion USD) of its bad debts in five years, instead of 10 years as stated in the restructuring plan approved by the State Bank of Vietnam.

Deputy PM Vuong Dinh Hue received in Hanoi on March 5 Shosuke Mori, head of the Sumitomo Mitsui Bank’s Asia Pacific Division, describing the bank as an effective credit channel and a gateway for foreign investors to enter Vietnam.

Lawmaker discussed a bill amending and supplementing some articles of the Law on Credit Institutions on October 26.

HDBank continuously posted record high profit in 2016, making it the most successful case in the country’s bank restructuring.

All credit institutions will be subject to restructuring in the next few years, according to Nguyen Van Hung, deputy chief inspector of the State Bank of Vietnam (SBV).

The State Bank of Vietnam (SBV) will co-operate with relevant agencies to map out a "special" law to boost bank restructuring and settle bad debts in 2017, according to SBV Governor Le Minh Hung.

The Law on Deposit Insurance should be amended to give the Deposit Insurance of Vietnam (DIV), a non-profit State financial organisation, more independence in managing risk at credit institutions.

Deputy Prime Minister Vuong Dinh Hue and JICA Vice President Kenichi Tomiyoshi have discussed policies on the restructuring of SOEs and the banking system in Vietnam during 2016-2020.

Vietnam is comprehensively switching to a market economy and considers this the guiding principle of steering the economy.

The Government is on track to settle its bad debts and cross-ownership, under a scheme to restructure credit institutions from 2011 to 2015.