Ficombank, TinNghiaBank and Saigon Commercial Bank (SCB) have just been merged. This is a good action and all deposits are ensured...
Ficombank, TinNghiaBank and Saigon Commercial Bank (SCB) have just been merged. This is a good action and all deposits are ensured.
. Good action
The State Bank of Vietnam on December 6 officially passed the policy on merging the three banks Ficombank, TinNghiaBank and Saigon Commercial Bank (SCB) and assigned the Bank for Investment and Development of Vietnam (BIDV) to take a comprehensive role in the merged bank.
The new bank will have VND10,000 billion in charter capital, VND150,000 in total assets and more than 200 branches and offices nationwide. It is planned to present on January 1, 2012. The merger will be completed in three years and the merged bank will become a powerful one then.
Especially, during the merging process, there will be no damages to depositors.
“Restructuring banks is very normal to strengthen and better the country’s bank system. It’s not an ominous event. It’s a positive action to raise banks’ competitive capacity, safety and strength. The merger of the three banks has started the restructuring process of the bank system under the policy of the Government and the State Bank”, said Doan Vinh Truong, general manager of the State Bank’s Khanh Hoa Branch.
. All deposits ensured
Among three merged banks, only Saigon Commercial Bank (SCB) has a branch and a transaction office in Khanh Hoa Province.
Right after the information about the merging of the three banks was released, some depositors came to SCB and wanted to withdraw their savings. However, when being consulted to understand the policy, they have felt secure.
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| Normal transaction at SCB Khanh Hoa. |
“SCB has prepared a large amount of cash to pay creditors in anticipation of mass withdraw. However, the bank is still operating stably. Mass withdraw has not happened”, said Hoang Thanh Toai, deputy manager of SCB Khanh Hoa.
“BIDV has committed to support to the three banks and ensure all deposits there”, confirmed BIDV Chairman of Management Board Tran Bac Ha.
T.T
