Vietnam central bank says Vietcombank, MBBank to take over smaller lenders

Quick Summary:

HANOI : Vietcombank and Military Commercial Joint Stock Bank (MBBank) will take over smaller lenders Construction Bank and Ocean Bank, respectively, Vietnam's central bank said on Thursday.

The moves are part of the central bank's restructuring program to stabilise the financial sector and tackle non-performing loans.

FILE PHOTO: People go past the State Bank building, near the offices of Vietcombank and the Bank for Investment and Development of Vietnam, in central Hanoi, Vietnam November 23, 2017.

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Article Details

Category: EconomyBusiness

Markets: SingaporeVietnam

Topics: Vietnam Mediacorp Central Takeovers Bank Banks Hanoi Rights Commercial Vietcombank State

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 15:54:03 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 197 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23100085

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