Three banks being acquired at zero dong: still facing heavy losses

06-Oct-2017 Intellasia | Vietnamnet | 6:00 AM Print This Post

At the meeting with National Assembly Chair Nguyen Thi Kim Ngan on October 3, State Audit of Vietnam (SAV) said, after being acquired at zero dong by the State Bank of Vietnam, three banks still face big losses and negative Equity is increasing.

Specifically, the SAV’s report on the restructuring results of three commercial banks being acquired at zero dong by the cental bank (including Construction Bank, Ocean Bank and Global Petroleum Commercial Joint Stock Bank (GPBank), shows that after two years of acquisition, the financial status of these three banks has not improved.

“The business performance of these three banks continues to suffer big losses, the negative equity is increasing and if there is not effective measures, the losses will be bigger”, SAV warned.

Also according to SAV, in 2016, the SAV proposed to deal with 38.776 trillion dong, the highest figure during the 22 years of operation of SAV.

 


Category: Finance

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