Agribank equitization proposedThe Ministry of Planning and Investment has suggested the Government move on with a major plan to equitize State-run commercial banks, saying that the Vietnam Bank for Agriculture and Rural Development (Agribank) should go public from now to 2020. As financial market restructuring is the highlight of the plan, the ministry expects the bank restructuring process to be completed by 2020. As per the draft, banks would be able to slash its bad debt ratios while the number of ailing commercial banks would dip sharply. Regarding policies, the ministry has proposed completing monetary and banking legal frameworks in 2020, including those for bank restructuring and bad debt settlement. According to the ministry, the current restructuring of ailing banks and the financial system has been behind the preset goals.

Source: VietNamNet News August 23, 2016 17:37 UTC