{
Nguyen Duc Long

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Vietnam's State Bank enforces transfer of struggling banks to stronger institutions

The State Bank of Vietnam has announced the compulsory transfer of Global Petroleum Commercial Bank (GPBank) and DongA Bank to Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank). This move aims to stabilize the banking sector by consolidating weak banks, ensuring that depositors' rights are fully protected throughout the process. Following the transfer, GPBank and DongA Bank will operate as single-member limited liability banks under the ownership of VPBank and HDBank.
Vietnam.vn - Nền tảng quảng bá về Việt Nam
Vietnamese Đồng VNM Nguyen Duc Long
Finance & Economy, News Article
06:19 17.01.2025
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