Vietnam’s central bank orders takeovers of two lenders
SBV continues with plan to force stronger banks to take over weaker ones
The State Bank of Vietnam (SBV) has ordered two lenders to take over two underperforming banks.
Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is to take over Global Petro Sole Member Limited Commercial Bank (GPBank), while Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) is to take ownership of DongA Commercial Joint Stock Bank (DongA Bank).
The central bank announced the decisions at a ceremony on January 17. In a statement, it said the compulsory transfers were aimed
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