Prime Minister invites largest Nordic bank to address weak banking structure

SEB Bank, the largest bank in Northern Europe with total assets of nearly 339 billion USD, was invited by Prime Minister Pham Minh Chinh to participate in restructuring weak banks in Vietnam.

This proposal was made by Prime Minister Pham Minh Chinh on the afternoon of January 17 when receiving Marcus Wallenber, leader of Skandinaviska Enskilda Banken - SEB Group (Sweden), during a working trip to Davos, Switzerland, to attend the World Economic Forum (WEF).

SEB Group is a group operating in the financial and banking sector, owning SEB Bank, the largest bank in Northern Europe by market capitalization, with total assets of nearly 339 billion USD.

The Prime Minister said that Vietnam encourages the participation of organizations with financial potential, experience and support capacity. He suggested that SEB participate in the Vietnamese financial market, the policy-making process and research on investment possibilities and restructuring of weak banks.

Prime Minister Pham Minh Chinh received Mr. Marcus Wallenberg, Chairman of the Board of Directors of SEB Group, in Davos (Switzerland), on the afternoon of January 17. Photo: Doan Bac

Mr. Marcus Wallenberg, Chairman of the Board of Directors of SEB Group, also expressed his desire to invest in Vietnam. In the near future, SEB will organize the Nordic Business Conference in Hanoi to continue exploring investment cooperation opportunities, especially in industrial development, digital transformation, and sustainable development.

Currently, 5 banks are under special control in Vietnam, including CBBank, OceanBank, GPBank, DongABank and SCB. The restructuring of weak banks is slow, and it is difficult to find voluntary investors to participate.

Previously, Mizuho Bank - one of the three largest banks in Japan - was also asked by Prime Minister Pham Minh Chinh to participate in restructuring weak banks in Vietnam, during his working trip and attendance at the ASEAN - Japan 50th Anniversary Summit at the end of 2023.

According to the Prime Minister, the good development of Vietnam-Sweden relations is a favorable foundation for businesses of both sides to cooperate. He also suggested that SEB coordinate with the Ministry of Planning and Investment to organize a conference connecting businesses and localities of Vietnam and Northern Europe, especially in the fields of green transformation, digital transformation, and circular economy development.

From January 16 to 18, Prime Minister Pham Minh Chinh attended the 54th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland. The WEF often attracts the participation of most leaders of countries, international organizations as well as the world's leading corporations and companies. Vietnam and the WEF have had relations since 1989. The WEF often invites Vietnam to attend its annual meetings in Davos and WEF conferences on East Asia.

Minh Son - Vnexpress.net

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