Vietnam central bank notes 4 principles in restructuring the banking system

The State Bank of Vietnam announced four fundamental principles in restructuring the local banking system.

It will firstly involve developing a banking industry with diversified ownership structure, scales and types to meet various demand for banking services of the whole economy.

Secondly, restructuring the banking sector must ensure to strengthen the health and safety of the banking sector.

Thirdly, mergers and acquisitions of banks are to be carried out on voluntary basis and must ensure the rights of the depositors as well as the rights and responsibilities of other related parties.

Lastly, the restructuring of the banking system must be implemented via an appropriate roadmap with multiple measures and approaches. Different measures will be applied for different banks.