Banks struggle to snap up distressed domestic lenders

Banks struggle to snap up distressed domestic lenders

Financially sound local and foreign banks are turning a deaf ear to acquire distressed and insolvent Vietnamese banks as they find it hard to access better equipment to address a range of adverse outcomes under a widely accepted supervisory regime.
Petrochemical execs get jail terms

Petrochemical execs get jail terms

Four former executives of Binh Son Refining and Petrochemical JSC (BSR) were sentenced to four to eight years in prison each yesterday following a two-day trial on charges of “abusing position and power to appropriate assets.”
Former Vietsovpetro general director and chief accountant prosecuted

Former Vietsovpetro general director and chief accountant prosecuted

Former general director Tu Thanh Nghia and former chief accountant Vo Quang Huy of Vietsovpetro are prosecuted by the Supreme People's Procuracy of Vietnam.
Ocean Bank to freeze Ocean Group accounts

Ocean Bank to freeze Ocean Group accounts

Police investigation authority has recently requested Ocean Bank to freeze Ocean Group Joint Stock Company (OGC) accounts until receiving official clearance.