The State Bank of Vietnam (SBV) will promote credit programmes to support agricultural production. (Photo: VNA) Hanoi (VNA) – The State Bank of Vietnam (SBV) will launch more effective credit programmes to support agricultural production and improve local livelihoods, making contributions to boosting economic growth while wiping out black credit in rural areas. SBV Deputy Governor Dao Minh Tu said high-tech agricultural development programmes as well as agricultural production in value chain to increase added value will be prioritised as part of the agricultural shake-up project. “The SBV sees agriculture and rural areas as top priority in its credit programme. It has directed credit institutions to improve procedures for loan access and paid due attention to branching out mobile banking model in remote areas, creating favourable conditions for local people to have better access to capital and other banking services,” Tu said. Currently, 70 commercial banks, … [Read more...] about State Bank of Vietnam promotes credit programmes for rural areas
State bank branches
Circular on rating credit institutions, foreign bank branches issued
The State Bank of Viet Nam issued Circular No. 52/2018/TT-NHNN on rating credit institutions and foreign bank branches from 2019 onward. Credit institutions and foreign bank branches are divided into six groups including (1) large-scale commercial banks with a quarterly average asset value exceeding VND100 trillion; (2) small sized commercial banks with a quarterly average asset value equal to or lower than VND100 trillion. Other groups consist of (3) foreign bank branches, (4) financial companies, (5) financial leasing companies and (6) co-operative banks. Based on their scores across the indicators, credit institutions and foreign bank branches are classified into one of the five categories, including Good (A), Fair (B), Medium (C), Poor (D), or Very Poor (E). Criteria system for rating credit institutions and foreign bank branches includes capital, asset quality, management, liquidity and earnings and sensitivity to market risks. The Circular takes effect since April 1, 2019. … [Read more...] about Circular on rating credit institutions, foreign bank branches issued
KPMG hosts seminars to discuss State Bank of Vietnam’s Circular 13
Leading consulting firm KPMG recently organised talks in Hanoi and Ho Chi Minh City on the recent Circular No.13/2018/TT-NHNN, issued by the State Bank of Vietnam. KPMG speakers at the seminars The two seminars by KPMG took place on July 18 in Hanoi and July 20 in Ho Chi Minh City, as more than 260 senior executives from over 36 local banks and foreign bank branches in Vietnam gathered to discuss Circular 13 and Risk Management Practice. This seminars were a part of KPMG-run programmes to increase support for Basel II for Vietnam's banking industry. The keynote speakers were Amitava Mukherjee, director of Risk Consulting, KPMG Asia Pacific Area and Pham Do Nhat Vinh, associate director and head of FS Risk Consulting, KPMG Vietnam & Cambodia. The seminars also welcomed representatives from the State Bank of Vietnam, who talked about requirements of Circular 13, one of the laws aiming to change the quality of bank management in Vietnam. In his opening remarks, Tran Dinh … [Read more...] about KPMG hosts seminars to discuss State Bank of Vietnam’s Circular 13
Former State Bank deputy governor tried for irresponsibility
Former deputy governor of the State Bank of Vietnam (SBV) Dang Thanh Binh (Photo: VNA) HCM City (VNA) – The People’s Court of Ho Chi Minh City opened the first instance trial on June 25 for former deputy governor of the State Bank of Vietnam (SBV) Dang Thanh Binh on the charge of lack of responsibility causing serious consequences at the Vietnam Construction Joint Stock Commercial Bank (VNCB). Other defendants tried for the same charge include Ha Tan Phuoc (former head of the supervision group and deputy director of the SBV branch in Long An province), Pham The Tuan (former deputy head of the supervision group), Le Van Thanh (former general inspector of the SBV branch in Long An) and Ngo Van Thanh (ex-member of the supervision group). The jury summoned nearly 20 people with related rights and obligations at the court, including Pham Cong Danh (former chairman of the Board of Directors of VNCB) and Phan Thanh Mai (former general director of VNCB), along with … [Read more...] about Former State Bank deputy governor tried for irresponsibility
Vietnam’s state bank tries to reassure clients in wake of multi-million fraud cases
By Anh Minh  April 3, 2018 | 11:06 am GMT+7 Bank tellers receive customers at an Eximbank office, as shown in a file photo by VnExpress. One client lost nearly $11 mln after a renegade bank employee used forged documents and fled overseas. Vietnamese banks and government authorities are trying their best to protect the legal rights of clients in the wake of multiple fraud cases that involved clients losing millions of dollars, an official from the State Bank of Vietnam (SBV) said at a press conference on Monday. Vice governor of the central bank, Nguyen Thi Hong, said banks have gone to great lengths to protect the rights of clients, and that the SBV has issued tight regulations to manage deposits and force credit unions to comply. “These documents [on regulations] clearly outline the procedures for managing deposits and explicitly state that credit unions are responsible for transparency. Violations will not be tolerated,” Hong said. She … [Read more...] about Vietnam’s state bank tries to reassure clients in wake of multi-million fraud cases