SBV: Some investors want to participate in Standard Chartered restructuring

The National Bank is studying the requests of many investors to participate in the restructuring of Standard Chartered Bank and urgently submits the Standard Chartered Bank restructuring plan to the government in accordance with regulations. Banking FinanceSBV: Some investors want to participate in the restructuring of SCB Tram Anh • {Published Date} The State Bank is studying the requests of some investors to participate in the restructuring of SCB and urgently submits the SCB restructuring plan to the government in accordance with regulations.

The Ministry of Planning and Investment’s report on economic structural adjustment stated that in the banking industry, the National Bank has promoted structural adjustment of the banking system in the past two years.

Currently, 5 banks are subject to special supervision, including CBBank, OceanBank, GPBank, DongABank and SCB. Special controls are professional measures to strictly control and limit the negative impact on banks and the entire system of credit institutions. In the history of the banking industry, there have been many banks that were once subject to special regulations but later recovered and thrived.

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Standard Chartered Bank is a bank that has been placed under special control since October 2022 after many of its branches and trading offices recorded people withdrawing money collectively.

As for Saigon Commercial Joint Stock Bank (SCB), judging from the report and overall assessment of the current situation, the SCB restructuring policy and the SCB Special Control Committee were proposed, and the State Bank has issued a report. .

Accordingly, based on the overall assessment of the current situation and the proposed restructuring policy of Standard Chartered Bank and the bank’s special control committee, the handling direction is given.

Currently, the National Bank is studying the requests of many investors to participate in the restructuring of Standard Chartered Bank and urgently submits the Standard Chartered Bank restructuring plan to the government in accordance with regulations.

Restructuring of weak banks is behind schedule. In this regard, the government has stated that it is difficult to find and negotiate commercial banks that are qualified to accept forced transfers (weak financial capabilities, management capabilities, and credit organizational structure experience), and it is difficult to rely heavily on voluntary participation of banks.

At the same time, banks still need time to convince shareholders, especially major shareholders and overseas strategic shareholders, to agree to participate in the forced transfer.

In mid-December 2023, when meeting with the leaders of Mizuho Bank, one of Japan’s three largest banks, Vietnamese Prime Minister Pham Minh proposed that the bank participate in the restructuring of Vietnam’s weak banks.

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