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Vietcombank aims to aid ailing bank

Update: February, 11/2017 - 09:00
Viet Nam News

HÀ NỘI - Vietcombank has submitted to the State Bank of Việt Nam’s governor a plan to support the restructuring of an ailing bank.

The Vietcombank representative did not reveal the name of the ailing bank that it will help restructure.

Previously, the central bank entrusted Vietcombank to support the Vietnam Construction Bank (VNCB) in a number of fields, such as capital resources, monetary business, credit and corporate governance.

According to Vietcombank, its support to VNCB meets the country’s current legal regulations.

Last year, Vietcombank was also the first bank to buy back all non-performing loans (NPLs) worth VND4.3 trillion (US$189.4 million) it sold to the Viet Nam Asset Management Company three years sooner than planned. -VNS

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