State Bank of Vietnam approves designation of 14 important banks in 2024
The State Bank of Vietnam (SBV) has issued Decision No. 538/QD-NHNN approving the group of credit institutions and foreign bank branches which play an important role in the country's banking system in 2024.
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| State Bank of Vietnam approves designation of 14 important banks in 2024: The headquarters of the SBV in Hanoi. (Photo: VNA) |
Accordingly, the 14 banks included in the group are the Vietnam Bank for Agriculture and Rural Development (Agribank); Asia Commercial Bank (ACB); Lien Viet Post Joint Stock Commercial Bank (LPBank); Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank); Bank for Investment and Development of Vietnam (BIDV); Vietnam Technological and Commercial Joint Stock Bank (Techcombank); Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank); Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank); Military Commercial Joint Stock Bank (MB); Vietnam 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); and Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
The SBV demanded banking inspection and supervision agencies, as well as its branches in provinces and centrally-run cities nationwide, to closely monitor and supervise, and promptly warn of risks in the operations of the above-mentioned credit institutions to prevent systemic risks.
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