The State Bank of Vietnam (SBV), the country’s banking regulator, is active in looking for investors that are willing to join the restructuring of troublesome Saigon Joint Stock Commercial Bank (SCB).
The Vietnamese government has given in-principle approval to a scheme that will have domestic commercial banks take over two weak peers, a central bank report says, part of broader efforts to clean up the banking system and reduce the number of lenders.
Private lenders ABBank, Techcombank, GPBank and SeABank and state-controlled Vietcombank have become the first five Vietnamese banks to cut their 12-month deposit interest rates to below 5.5%.
Military Commercial Joint Stock Bank (MB) secured its position in the top five Vietnamese banks at an awards ceremony, a testament to its vital contributions towards its sustainable growth in the banking sector.