Central bank puts Dong A bank under

Central bank puts Dong A bank under special control

The decision was made after "a recent investigation of the SBV found several violations in financial management, lending activities and other business activities at the bank during the year 2012 and before, which seriously affected its financial situation and operation," the SBV said in a statement.

SBV said it will dismiss and punish some of the bank's leaders for wrongdoings. The central bank will assign staff from the Bank for Investment and Development of Vietnam to take over governance and administration of the bank to ensure continued stable operations.

The SBV said the rights and legitimate interests of depositors will be guaranteed.
Established in 1992 with charter capital of VND20bn (USD950,000 ), Dong A Bank grew to VND5trn (USD226.24 million) and total assets of nearly VND90trn.

Dong A was not on the list of nine banks set for restructuring by the SBV -- SCB, Ficombank, TinNghiaBank, Habubank, Tienphongbank, GP Bank, Navibank, TrustBank and Western Bank -- but it was in the spotlight when in 2014 it posted a pretax profit of VND35bn, down 96 percent on 2013.

Dong A's CEO, Tran Phuong Binh, told reporters the bank was restructuring and a letter had been sent to Prime Minister Nguyen Tan Dung seeking a deadline extension until the end of the year.

"I think we have two measures: trying to solve bad debts or selling shares to foreign investors and I think the second would work best," Binh said.

Kết quả (Anh) 1:

Central bank puts Dong A bank under special controlThe decision was made after "a recent investigation of the SBV found several violations in financial management, lending activities and other business activities at the bank during the year 2012 and before, which seriously affected its financial situation and operation," the SBV said in a statement.SBV said it will dismiss and punish some of the bank's leaders for wrongdoings. The central bank will assign staff from the Bank for Investment and Development of Vietnam to take over governance and administration of the bank to ensure continued stable operations.The SBV said the rights and legitimate interests of depositors will be guaranteed.Established in 1992 with charter capital of VND20bn (USD950,000), Dong A Bank grew to VND5trn (USD 226.24 million) and total assets of nearly VND90trn.Dong A was not on the list of nine banks set for restructuring by the SBV-Ficombank, TinNghiaBank, SCB, Habubank, Tienphongbank, GP Navibank TrustBank, Bank, and Western Bank--but it was in the spotlight when it posted a pretax profit in 2014, the printing of VND35bn, down 96 percent on 2013.Dong a's CEO, Tran Phuong Binh, told reporters the bank was restructuring and a letter had been sent to Prime Minister Nguyen Tan Dung seeking a deadline extension until the end of the year."I think we have two measures: trying to solve bad debts or selling shares to foreign investors and I think the second would work best," Binh said.

Kết quả (Anh) 2:

Central bank puts Dong A bank under special control The Decision was made ​​after "a recent vài Investigation found violations of the SBV in Financial Management, and other business Lending Activities Activities at the bank khi the year 2012 and the before, mà Financial situation seriously its AFFECTED and operation, "the SBV said in a statement. SBV said it will Dismiss and Punish some of the bank's Leaders for wrongdoings. The central bank will assign staff from the Bank for Investment and Development of Vietnam to take over governance and administration of the bank to Ensure continued stable operations. The SBV said the rights and legitimate Interests of depositors will be guaranteed. Established in 1992 with charter capital of VND20bn (USD950,000), Dong A Bank Grew to VND5trn (USD226.24 million) and total assets of Nearly VND90trn. Dong-A was not on the list of nine banks for restructuring set by the SBV - SCB, Ficombank, TinNghiaBank Habubank, TienPhongBank, GP Bank, Navibank, TrustBank and Western Bank - but it was in the spotlight in 2014 it posted a khi pretax profit of VND35bn, down 96 percent on 2013. Dong-A's CEO, Tran Phuong Binh, told Reporters the bank restructuring and a letter was sent to Prime Minister had được Nguyen Tan Dung seeking a deadline extension off until the end of the year. "I think WE HAVE two Measures: bad debts thử solve or selling shares is restricted to foreign Investors and I think the second would work best, "Binh said.