Vietnam encourages merging and re-purchasing credit organizations voluntarily Photo: Hoang Ha/VnExpress

(VOVworld) - The Prime Minister has approved a project to restructure the credit organization system by 2015. Accordingly, Vietnam aims to form 1 to 2 State-owned commercial banks which reach regional standards in terms of scale, management, technology and competitiveness. The state encourages merging and re-purchasing credit organizations voluntarily and ensuring the rights of depositors, as well as responsibility of stakeholders. Credit organizations will increase their scales and financial capacity by raising their capital, re-purchasing, merging and expanding mobilization of capital. State-owned commercial banks aim to reduce their bad debt ratio to below 3 percent, and outstanding loans compared to mobilized capital ratio to below 90 percent by 2015.