Intellasia East Asia News – Vietcombank and MB will take part in reconstructing CBank and Ocean Bank

Vietcombank and MB would participate in the reorganisation of two weak banks, Construction Bank (CBank) and Ocean Bank, as a part of the forcible transfer controlled by the government.

The government has just organised a new scheme for restructuring credit institutions in conjunction with dealing with bad debt during the 2016-2020 period, as well as the development for the next four years.

After the forcible transfer, these two weak credit institutions would operate in the form of a one-member limited liability bank, in which Vietcombank and MB possess all of the charter capital. The two weak banks will also be independent legal entities, with separate financial statements.

Moreover, Vietcombank and MB will engage in the administration, management, and operation of the two weak banks.

Market watchdogs believe that the fresh move could further broaden Vietcombank and MB’s credit line, which is an upbeat signal for the two commercial banks.


Category: Finance, Vietnam

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