restructuring

Update news restructuring

2016 – a peaceful year for banks

VietNamNet Bridge - Dong and foreign-currency liquidity was plentiful throughout the year. The interest rate was stable at a five-year low while the dong/dollar exchange rate was also stable with the dong depreciating by 1.2 percent.

Vietnam expects foreign capital to help restructure weak banks

VietNamNet Bridge - In the context of limited domestic resources, attracting foreign capital to banks is seen as a viable solution to bank restructuring.

Agriculture sector restructuring prioritized next year

 VietNamNet Bridge – Priority will be given to the restructuring of agriculture next year to ensure higher growth for the sector, the Ministry of Agriculture and Rural Development said in a statement.

Gov’t tightening equitisation on State-owned firms

 VietNamNet Bridge – Vuong Dinh Hue, Deputy Prime Minister and head of the Steering Committee for Enterprise Renewal and Development speaks with Thoi bao Kinh te Viet Nam about the restructuring of State-owned enterprises

Foreign investors can join bank restructuring process

 VietNamNet Bridge – Governor Le Minh Hung of the State Bank of Vietnam (SBV) has called for foreign investors to participate in the restructuring of the banking system.

Vietnam’s State owned enterprises need reforms

Dang Quyet Tien, Deputy Director of the Department of Enterprise Finance, under the Ministry of Finance, spoke to the newspaper Kinh te & Do thi on the importance of having a correct understanding about the equitisation process of SOEs.

Banks’ irrecoverable debts see huge increase

The irrecoverable debts of 12 Vietnamese commercial banks by September 30, 2015 had reached VND23.522 trillion, which accounts for 65 percent of bad debts, representing a 15 percent increase from the 50 percent reported in mid-2015.

Whose hands will public assets fall into?

VietNamNet Bridge - The equitization of a series of state-owned enterprises (SOEs) will end with a large part of public assets falling into the hands of a group of ‘the super rich’. 

Four years of major restructuring of the banking system

The number of commercial banks cut from 42 to 34 in the last four years when the banking system underwent a restructuring process, considered ‘major surgery’. No bank went bankrupt. 

Vietnam to foster green growth

 VietNamNet Bridge – Vietnam needs to restructure its economy to achieve sustainable development and consider green growth an intrinsic part, while keeping in mind the poor people,

Innovation key for agriculture: Minister

 VietNamNet Bridge – Agriculture is a key industry that drives competitiveness, enhances economic growth and serves as the momentum for inclusive growth in Southeast Asia, a ministry official said at a meeting held on Wednesday in HCM City.

SBV vows to restructure financial leasing companies

VietNamNet Bridge - Despite the high demand and the fertile market, only 50 percent of Vietnamese owned finance leasing companies have been profitable. 

Google unveils surprise restructuring under Alphabet

 Google has unveiled a surprise restructuring, creating a new parent company called Alphabet Inc.

Ministry: Divestments from non-core businesses hard

 VietNamNet Bridge – Agricultural enterprises saw the withdrawal of State capital from non-core businesses in the first half of this year difficult as both share prices and demand were low,

Bankers say bad-debt ratio is not that high

VietNamNet Bridge - While economists doubt commercial banks can reduce the bad-debt ratio to below 3 percent by the end of August, bankers said the target was within reach because the current situation is not as bad as once thought. 

Banks reduce cross-ownership

 VietNamNet Bridge – Only three pairs of commercial joint stock banks had cross-ownerships, down three pairs from 2012, said Governor of the State Bank of Viet Nam (SBV) Nguyen Van Binh.

Forestry sector told to focus on restructuring

 VietNamNet Bridge – Deputy Prime Minister Hoang Trung Hai has asked localities nationwide to focus on forestry restructuring by improving productivity, quality and value.

Challenges await banks this year

 VietNamNet Bridge – Bankers said 2015 will remain a challenging year though some banks have reported higher earnings and there have been more positive signs in the local economy.

Will Vietcombank take over Saigon Bank?

Vietcombank, one of five Vietnamese largest commercial banks has announced it will acquire another credit institution. Sources say the “other credit institution” could be Saigon Bank.

VN targets 2020 industrial nation status

VietNamNet Bridge – The industry and trade sector will be restructuring its organisation and operations in line with strategies to ensure national socio-economic development.