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 competent 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 anti-money laundering and anti-terrorism financing activities, 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 shortcomings and limitations of the 3 branches in Ho Chi Minh City. In particular, credit granting activities at the branches have some typical shortcomings and limitations, such as appraisal and decision on lending; inspection and supervision of loans are not complete and strict; customers borrowing loans do not ensure that they use the loans for the right purposes,...

Regarding foreign exchange management and money transfer activities 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 shortcomings, problems, and not yet strictly implemented activities related to anti-money laundering.

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

With the above shortcomings, limitations and deficiencies, 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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