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Update news foreign banks
VietNamNet Bridge – An impending merger between Southern Bank and Sacombank is the latest move in Vietnam’s banking restructuring process.
VietNamNet Bridge – If UOB pours money into GP Bank, this would mean that the government of Vietnam implicitly keep the banks’ doors open to foreign investors who are believed to help deal with weak banks.
VietNamNet Bridge – The State Bank of Vietnam (SBV) encourages foreign credit institutions to contribute capital and purchase shares of Vietnamese credit institutions while continuing to evaluate and identify some weak banks to take on restructuring.
VietNamNet Bridge – Total assets for the banking industry reached 5,225 trillion VND by the end of May, the highest level since the State Bank of Vietnam decided to disclose the figure in June 2012.
VietNamNet Bridge - Given that the bad debt situation in Vietnam is not considered as a "tragedy," foreign experts suggested the Vietnamese government to take rapid and drastic solutions to deal with it.