The Ministry of Public Security has officially launched an investigation into the alleged abuse of position and power to appropriate assets at the State-run PetroVietnam Oil Corporation (PVOil) and OceanBank, along with two former PVOil officials.

Former chairman of Ocean Commercial Bank (OceanBank) Ha Van Tham was sentenced to an additional 15 years in prison on charges of breaking lending violations, resulting in a loss of US$3.9 million at the Hanoi-based bank.

The circular lists cases that credit institutions are granted a reserve requirement waiver or a lower reserve requirement ratio.

The High-level People’s Court in Hanoi yesterday increased the penalty imposed on one of the four defendants charged with “abusing position and power to appropriate assets” at the State-run Vietnam Shipbuilding Industry Group (Vinashin).

The Hanoi People’s Court will open a trial of the case of abusing position and power to appropriate assets at the PetroVietnam Exploration Production Corporation (PVEP) on May 6.

Is restricted licensing to 100 percent foreign-owned banks the right way to save weak Vietnamese banks?

The High-Level People’s Court in Hanoi began to hear the appeals of Dinh La Thang and his accomplices in the case involving PetroVietnam’s contribution of VND800 billion to the OceanBank.

Former Deputy governor of the State Bank of Vietnam (SBV) and many other bankers were prosecuted for violations in bank related fields in 2017.

Deputy General Director of Vietnam Oil and Gas Group Ninh Van Quynh on Thursday admitted in court to receiving about VND20 billion from former Ocean Bank General Director Nguyen Xuan Son

Deputy General Director of Vietnam Oil and Gas Group Ninh Van Quynh was detained on Friday for “deliberately violating State regulations and causing serious consequences” for PVN.

The first-instance hearing of Ha Van Tham, former chairman of the Board of Directors of the Ocean Commercial Joint Stock Bank, Ocean Bank, and his accomplices will reopen on August 28, according to the Hanoi People’s Court. 

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

VietNamNet Bridge - OceanBank was forced to sell to the State Bank for zero dong to implement the so-called “neo-bankruptcy” deal. What will the State Bank do with it? 

The State Bank of Viet Nam (SBV) officially acquired Ocean Bank on May 8, gaining all its equity, including its charter capital of some VND4 trillion (US$190.48 million).

VietNamNet Bridge - The State Bank’s decision to buy Ocean Bank at zero dong means that PetroVietnam, the national oil and gas group, will incur a complete loss in the investment deal.

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.

VietNamNet Bridge – The Year of the Horse (2014) was a grand time for many Vietnamese businessmen.