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Friday, June 14, 2024

SBV seeks investors for SCB restructuring

By Nguyen Tan

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HCMC – The State Bank of Vietnam (SBV) is seeking investors for the restructuring of Saigon Joint Stock Commercial Bank (SCB), which has been put under special supervision for over a year.

The Government has presented a report to the National Assembly, saying that the SBV has been working with ministries and agencies to implement multiple measures to ensure the stability of the banking system and safeguarding the rights and interests of SCB depositors.

Drawing from the assessment report and the proposed restructuring plan for SCB, the SBV is searching for investors to restructure the bank before submitting the plan to the Government for consideration.

Following a year of special supervision, SCB’s operations have been gradually stabilizing. The bank is currently focused on developing a comprehensive restructuring plan.

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