The handling of bad debt among credit institutions would be audited this year in order to formulate recommendations for effectively implementing a National Assembly resolution, according to the State Audit Office of Viet Nam (SAV).

VietNamNet Bridge - Foreign investors will get big benefits if buying "zero dong" banks as the banks have customers and large networks nationwide.

VietNamNet Bridge - The State Bank of Vietnam (SBV) has been urged to quit zero-dong banks and let  commercial banks undergo restructuring themselves.

The restructuring of three ailing banks, which the State Bank of Vietnam took over at zero dong, has begun. VND11 trillion is the amount of money that Ocean Bank, GP Bank and CB have to pay to depositors and use to expand their business.

VietNamNet Bridge - Analysts believe Merger & Acquisition (M&A) deals will be quiet for the rest of the year, while deals under negotiation will complete necessary procedures.

The move by the State Bank of Vietnam (SBV) to change key personnel at GPBank and the appointment of a VietinBank executive as GPBank’s new legal representative will be followed by a “zero dong” plan, according to analysts.

Chairman Nguyen Van Thang of the Hanoi-based Vietnam Bank for Industry and Trade (VietinBank) said the bank would only support OceanBank and GPBank restructuring under the direction of the State Bank of Vietnam (SBV).

VietNamNet Bridge - It is still unclear how GP Bank will restructure itself: will it be nationalized by the State Bank or successfully call for more capital?

VietNamNet Bridge – The State Bank of Vietnam (SBV) is eyeing to buy GP Bank and Ocean Bank, Thoi Bao Kinh Te Sai Gon quoted its sources as saying.

The reorganisation of Global Petrol Bank (GP.Bank) has seen progress, its chief executive officer Pham Quyet Thang said in an interview with news website ttvn.vn.

 VietNamNet Bridge – The State Bank of Vietnam (SBV) plans to nationalize GPBank, and then possibly OceanBank if the bank is unable to handle its problems.

The government of Vietnam is considering raising the ceiling on foreign ownership in weak banks which are undergoing restructuring, Deputy Governor of the State Bank Nguyen Phuoc Thanh said.

 VietNamNet Bridge – Eight out of the nine weak banks have finished the restructuring process, while the ninth one may be sold to foreign investors. There is no precedent for such a move in Vietnam.