Vietnam to Inspect Banks' Credit Quality in Third Quarter
The State Bank of Vietnam (SBV) plans to set up inspectorates to inspect credit quality of commercial banks nationwide in the third quarter, focusing on Hanoi and Ho Chi Minh City.
The inspection is aimed to evaluate the real situation of credit activities, achievements and shortcomings, and to find violations of banks for judgment.
The SBV will also summarize, revise and supplement policies in order to boost development of banking systems towards safety, effectiveness and sustainability.
By the end of May, total outstanding loans of Vietnam banks increased 18.42 per cent, compared with the rise of 13.36 per cent in the same period last year. They did not give out the real figure.
Banks offered big loans for real estate and securities markets, which have high risks.
As the end of April, outstanding loans for securities trading were VND9.75 trillion, or 0.78 per cent of total loans, and for property market were VND135 trillion, or 10.8 per cent of total loans for the economy. (VnEconomy)
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