14 key banks in the system by 2024

The State Bank of Vietnam announced important banks that need to be closely monitored to prevent significant risks. — The State Bank of Vietnam announced important banks that need close supervision to prevent significant risks.

Accordingly, 14 domestic banks in the Group of Systemically Important Credit Institutions in 2024 include: Vietnam Bank for Agriculture and Rural Development (Agribank); Asia Commercial Joint Stock Bank (ACB); Lien Viet Post Joint Stock Commercial Bank (LPBank); Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank); Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV); Vietnam Technological and Commercial Joint Stock Bank (Techcombank); Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank); Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank); Military Commercial Joint Stock Bank (MB); International Commercial Joint Stock Bank (VIB); Saigon - Hanoi Commercial Joint Stock Bank (SHB); Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank); Tien Phong Commercial Joint Stock Bank (TPBank); Vietnam Prosperity Joint Stock Commercial Bank (VPBank).

The State Bank also requested the Banking Inspection and Supervision Agency and the State Bank branches in provinces and centrally run cities to closely monitor and promptly warn of risks in the operations of the above 14 credit institutions to prevent significant risks and systemic risks.

According to Circular No. 08/2017/TT-NHNN regulating grouping according to the level of impact on the system, the State Bank is dividing into 2 groups including the group of credit institutions and foreign bank branches of systemic importance and the remaining group in the system.

At the same time, the criteria for determining the level of systemic importance, the content of macro-safety supervision, and the frequency of preparing macro-safety supervision reports for the Group of credit institutions and foreign bank branches of systemic importance are guided in the Banking Supervision Handbook issued by the Governor of the State Bank of Vietnam.

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