Mr. Doan Dong has a savings of 160 million VND deposited for a 6-month term at a bank. However, when reading the news that this bank is under special control, Mr. Dong wondered whether his deposit is safe or not?
Talking to Lao Dong about this issue, Dr. Chau Dinh Linh - Banking University of Ho Chi Minh City shared: Many people are concerned about this issue when depositing money at specially controlled banks or zero-dong banks. This is a legitimate concern of the people.
Banks under special control, that is, having problems with liquidity, financial structure....
According to research, the 4 banks under special control include 3 banks that were forced to buy at 0 VND (Construction Bank - CBBank, Ocean Bank - OceanBank, Global Petroleum Bank - GP Bank) and Dong A Bank.
However, Mr. Dinh Linh said, banking business activities are based on brand reputation and depositors' trust.
In Vietnam, the State Bank will be responsible for coordinating, regulating, and managing the security and safety of the commercial banking system. Accordingly, the State Bank has been very quick in controlling the creation of balance and safety in finance, and the solvency of weak banks.
"Everything is gradually stabilizing, so people who deposit money need to have confidence in the policies and management of the State Bank. From the SCB case to Dong A Bank, banks bought back for 0 VND, the State Bank is intervening to ensure payment capacity" - Dr. Chau Dinh Linh said.
Lecturer, Banking University analyzed, for people, when depositing money, there are often criteria such as safety, interest rate, brand,...
If people prioritize reputation when depositing money, they can look for banks with big brands, stable operating history, and credit ratings from international organizations.
But if people prioritize profit criteria, people can look for banks with attractive interest rates to make a profit on their money.
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