Banking sector restructuring plan approved

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The project targets to restructure credit institutions by handling NPLs and weak credit organizations in line with market mechanisms; ensure interests of depositors; preserve system safety; reduce the number of weak credit organizations to ensure liquidity.

Restructuring credit institutions

The project aims to restructure commercial banks which the State holds over 50% of the equity.

Commercial banks which the State keeps over 50% of equity must take the lead in application of modern technology, advance administration, safety operation, international integration.

Joint-stock commercial banks will be restructured.  

Social cooperative banks  were asked to harmonize capital and supervise spending of borrowing capital and debt  payment capability of banks for customers.  

Handling NPLs

The State Bank of Viet Nam (SBV), ministries, localities, credit organizations were asked to resolve NPLs; implement Decision 843/QD-TTg, dated May 31, 2013; extricate difficulties for business production; support market; reduce inventory products; stimulus domestic investment and consumption; develop real estate, and stock market.

The Viet Nam Asset Management Company (VAMC) was asked to review and categorize borrowers and guaranteeing property./.

By Kim Loan