HANOI: Vietnam’s central bank said it would take over all shares in troubled lender Global Petro Bank because of its failure to restructure, making the third such move this year to consolidate the country’s fragmented banking sector.
The State Bank of Vietnam (SBV) would nationalise Global Petro Bank (GP.Bank) because it had exhibited serious risks and management weakness and had failed to find a partner, or devise a feasible reform plan in the past three years, the SBV a statement.
Already a subscriber? Log in
Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.
