The State Bank Inspectorate Region 2 has just announced the inspection conclusion for 3 branches of a joint stock commercial bank in Ho Chi Minh City, including Ho Chi Minh City Branch, Saigon Branch and Phu Nhuan Branch.

With 13 contents inspected according to the plan approved by authorized authorities, the State Bank Inspectorate Region 2 concluded that basically the 3 branches have complied with the provisions of the law and the State Bank on activities such as capital mobilization, foreign exchange activities and activities to prevent and combat money laundering, terrorist financing, etc.

The branches' operations over the years have been effective and have contributed positively to the local economic development.

However, the inspection agency also pointed out the dangers and limitations of the 3 branches in Ho Chi Minh City. In particular, credit granting activities at the branches have some typical disadvantages and limitations, such as evaluation and decision on lending; inadequate and loose inspection and supervision of loans; borrowers have not guaranteed that they use loans for the right purposes,...

Regarding foreign exchange management and money transfer abroad, the Ho Chi Minh City branch has not yet collected complete documents for some transactions of importing goods and one-way money transfer.

Saigon branch was identified to have some disadvantages, problems, and not being strictly implemented related to anti-money laundering activities.

Phu Nhuan Branch was identified to have some limitations and limitations in accounting and bookkeeping activities such as: Recording revenue, accrued interest, and deposit interest is not accurate.

With the above concerns, limitations and shortcomings, the Chief Inspector of the State Bank of Vietnam, Region 2, has applied handling measures according to authority and regulations of law.

At the same time, the bank's headquarters is required to implement 17 recommendations and branches to implement the remaining recommendations.

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