VIETNAM PRESS-Vietnam to own 20 banks after restructuring - Nhan Dan

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Vietnam has been restructuring its banking system and will decrease the variety of commercial banks đ�ng ký logo to around 20 in the next few years, from practically 40 now, based on the State Bank or investment company of Vietnam, the Nhan Dan (People) publication reports.

Last Saturday, the central bank said it got purchased the loss-making Dai Duong Commercial Loan company, a product of Ocean Group Co , to guarantee the system's safety, the second such move in less than two months.

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Word: Reuters hasn't verified this report and will not attest to its accuracy and reliability.

(Compiled by Hanoi Newsroom; Editing by Prateek Chatterjee)