{
Nguyen Thi Hong

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Vietnam transfers struggling banks DongA and GPBank to new owners

The State Bank of Vietnam has transferred struggling lenders DongA Bank and GPBank to HDBank and VPBank, respectively, as part of a government initiative to restore their operations. DongA Bank has been under special control since 2015, while GPBank was acquired by the central bank for zero dong that same year. Following the transfer, GPBank will operate as an independent entity fully owned by VPBank, which plans to invest up to 20% of its charter capital in the bank.
The State Bank of Vietnam on Friday transferred ailing lenders DongA Bank and GPBank to HDBank and VPBank, respectively, under a government order.
VNM Nguyen Thi Hong
Finance & Economy, News Article
11:00 17.01.2025

Vietnam central bank to sell dollars to stabilize dong and curb inflation

Vietnam's central bank is prepared to sell US dollars to stabilize the dong and maintain macroeconomic stability, according to State Bank Governor Nguyen Thi Hong. During a National Assembly meeting, she emphasized the need to curb inflation while managing commercial lending rates to avoid impacting the foreign currency market.
bloomberg.com
United States Dollar Vietnamese Đồng State Bank of Vietnam VNM Nguyen Thi Hong
Finance & Economy, Market Report
05:39 11.11.2024
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