Dong A Commercial Joint Stock Bank was forced to transfer to Ho Chi Minh City Development Joint Stock Commercial Bank due to mistakes in lending and operating strategy
On January 17, 2025, the State Bank completed the transfer of four weak banks as planned when it announced the decision to compulsorily transfer DongA Commercial Joint Stock Bank (DongA Bank) to Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) due to mistakes in lending and operating strategy that caused DongA Bank's bad debt to increase, the bank had negative equity and was put under special control since August 2015.
On January 17, 2025, the State Bank completed the transfer of four weak banks as planned when it announced the decision to compulsorily transfer DongA Commercial Joint Stock Bank (DongA Bank) to Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) due to mistakes in lending and operating strategy that caused DongA Bank's bad debt to increase, the bank had negative equity and was put under special control since August 2015.
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