Construction Bank is expected to relaunch its credit services in mid-July. — Photo enternews.vn

LONG AN (Biz Hub) — Construction Bank (CB) is expected to relaunch its credit services in mid-July, Dien dan Doanh nghiep (The Business Forum) reported online.

The State Bank of Viet Nam (SBV) acquired the bank and converted it from a joint stock institution into a one-member limited company in March.

The acquisition had become necessary to restore the payment ability of Construction Bank as it had earlier been placed under special government supervision, after it had expressed its inability to present a plan to assure its minimum equity required by the law.

Nguyen Van Tuan, a former Deputy General Director of major lender Vietcombank, has been made Chairman of Construction Bank after the SBV designated Vietcombank to help with the reorganisation of the bank.

During its service relaunch, Construction Bank will reportedly focus on individual customers with preferential properties and vehicle purchase loan packages.

The bank is headquartered in the Mekong Delta province of Long An and has charter capital worth VND3 trillion (US$142.86 million). — VNS