Wrongdoings to be punished for a stronger banking system
12:32 | 28/09/2012
VGP – During its September regular meeting on September 27, the Government emphasized its determination to streamline the banking system, especially through streamlining weak banks and strictly punishing all violations, said a senior official.

The Vietnamese Government determines to recover a healthy banking system - Illustration photo
The Vietnamese Government’s Spokesperson, Minister Vu Duc Dam made the statement in the press briefing after the Government’s meeting.

Mr. Dam said that the Government will leave no “restricted areas” in dealing with violations and wrongdoings within the banking field.

The Government also keeps in mind measures to secure the stability of the system and minimize negative impacts on depositors’ legitimate interests, confirmed the Minister.

The recent prosecution against some senior executives of ACB, the biggest non-State-owned bank in Viet Nam, is one of activities to clean up the banking system, said Minister Dam, adding that the bank’s operations will be not affected. 

He told that the State Bank of Viet Nam is drastically conducting its plan of streamlining weak joint-stock banks in line with legal regulations and with the view of making the banking system healthy. The process of streamlining is scheduled  to be finished by the end of 2013.

By Hong Hanh

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