Official compulsory transfer of two zero-dong banks

CBBank was officially transferred to Vietcombank - Photo: Contributor

At the press conference on the results of banking activities in the third quarter, held on the afternoon of October 17, the State Bank's leaders said so.

Responding to Tuoi Tre Online 's question about the official information on the mandatory transfer of two zero-dong banks, Mr. Nguyen Duc Long - Deputy Chief Inspector of the State Bank's Inspection and Supervision Agency, said that on the afternoon of October 17 (4 p.m.), the mandatory transfer ceremony of two zero-dong banks will take place.

Specifically, Construction Joint Stock Commercial Bank (CBBank) was transferred to Vietcombank. Ocean Joint Stock Commercial Bank (Oceanbank) was transferred to MBBank .

So, how are depositors’ rights guaranteed after the compulsory transfer? Mr. Long answered that the objective of the compulsory transfer is to help weak banks overcome difficulties, ensure safety, and comply with legal regulations.

"Before, during and after the transfer process, depositors' deposits are completely guaranteed," Mr. Long affirmed.

Regarding the rights of the transferee bank, according to Mr. Long, the transferee bank is required to receive support measures according to regulations.

There is one remaining zero-dong bank and Dong A Commercial Joint Stock Bank will be transferred to as soon as possible. Currently, the work is actively implemented according to the approved project.

Previously, at the regular Government meeting in September, State Bank Governor Nguyen Thi Hong said the banking sector had directed credit institutions to actively review their financial situation and prepare documents to organize the transfer ceremony of two zero-dong banks.

The State Bank is also directing the remaining two banks to quickly complete the report to the Prime Minister.

In a report sent to the National Assembly Standing Committee in 2022, the Government said it has implemented many measures to handle three compulsory acquisition banks including CBBank, OceanBank, Global Petroleum Bank (GPBank) and a bank under special control, Dong A Bank.

Of which, 2 banks subject to compulsory acquisition, CBBank and OceanBank, have had a solution.

Source: https://tuoitre.vn/chinh-thuc-chuyen-giao-bat-buoc-hai-ngan-hang-0-dong-20241017150123837.htm