Lender SCB restructuring plan submitted to government

SCB was put under special control by the central bank in October last year after many customers flocked to its branches to withdraw their savings, fearing that the lender might collapse.

In the history of the banking industry, many institutions have come under special control but have since recovered and thrived.

Other ailing banks that the SBV is making plans to restructure include CBBank, OceanBank, GP Bank and DongABank.

An inspection unit at the National Assembly said earlier that the restructuring of these banks take a long time as it is up to healthy lenders to decide voluntarily whether they want to merge with the ailing lenders.