PM requests urgent action to prevent cross-ownership, manipulation of credit institutions

PM requests urgent action to prevent cross-ownership, manipulation of credit institutions

Prime Minister Pham Minh Chinh has ordered the Ministry of Public Security to coordinate with the State Bank of Vietnam (SBV) to take urgent action to prevent and deal with cross-ownership and manipulation at credit institutions, ensuring system safety and financial-monetary security.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Institutional shareholders’ ownership ratio in banks needs to be reduced: legislators

Institutional shareholders’ ownership ratio in banks needs to be reduced: legislators

The ownership ratio of an institutional shareholder in banks must be cut from 15% to 10% to diversify shareholder structure, increase publicity and limit control and takeovers of banks, said the National Assembly (NA) Standing Committee on Monday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Closer supervision needed to minimize manipulation, cross-ownership in banks: SBV governor

Closer supervision needed to minimize manipulation, cross-ownership in banks: SBV governor

The State Bank of Vietnam (SBV) will enhance its supervision of credit institutions to reduce manipulation and cross-ownership in banking activities, said governor Nguyen Thi Hong on Thursday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Cross-ownership in Vietnam banks a headache seen from Van Thinh Phat-SCB scandal

Cross-ownership in Vietnam banks a headache seen from Van Thinh Phat-SCB scandal

The scandal surrounding real estate developer Van Thinh Phat Group and Saigon Commercial Bank (SCB) shows that violations in cross-ownership and cronyism have become complicated and increasingly sophisticated, posing a huge challenge for regulators when it comes to preventing businesses from controlling banking activities.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Lawmakers want stronger measures to curb cross ownership in banks

Lawmakers want stronger measures to curb cross ownership in banks

National Assembly members have suggested that the government should take radical measures to restrain cross-ownership in the country’s banking sector to ensure a healthy system.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

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