Ocean Bank remains liquid, says Thu

Wednesday, Oct 29, 2014 11:58

The newly-appointed chairwoman of the OceanBank Nguyen Minh Thu. — File Photo

HA NOI (Biz Hub) – Nguyen Minh Thu, newly-appointed chairwoman of the Ocean Bank board of directors, has announced that the bank's liquidity remained well-managed following an increase in the number and amount of bank withdrawals.

Thu has replaced Ha Van Tham, former chairman of the bank's board of directors, who was suspended, arrested and detained on charges of violating regulations governing credit institutions' operations.

Last October 27, the bank's transaction bureaus reported an increase in transaction activities, with the number of deposits falling and the number of withdrawals rising following news of Tham's suspension, arrest and detention. But the number of withdrawals has since declined.

Thu said her bank has consistently implemented the goals of stability, sustainability and safety and has focused on processing non-performing loans and ensuring stable growth in compliance with policies of the State Bank of Vietnam (SBV).

To meet the demand of clients' withdrawals, the bank has prepared assets of liquidity, including VND15 trillion in SBV treasury notes and government bonds that can be converted to cash anytime, added Thu.

Last October 24, the SBV suspended Tham. On the same day, the Supreme People's Procuracy approved the warrant of the Police Investigation Agency under the Ministry of Public Securities for Tham's arrest.

The agency then arrested and detained Tham and examined his assets and documents. He will be detained for up to four months pending further investigation.

SBV confirmed that Tham's case was personal and would have no effect on Ocean Bank. — VNS

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