Only Consider Commendation for Banks with Non-Performing Loan Ratio Below the Maximum Level

According to Circular 08, the commendation and reward activities in the Banking sector are carried out following the principles specified in Article 3 of Decree 91/2017/ND-CP and the following principles:

- Within a year, the Governor of the State Bank only grants a Certificate of Merit or recommended state-level rewards once for a collective or individual, except for extraordinary or thematic rewards.- Rewards or recommendations to higher authorities shall not be considered for collectives or individuals currently under disciplinary review by competent authorities or being investigated, inspected, or checked for signs of violations or having complaints or denunciations being verified.- Rewards or recommendations for rewards to credit institutions, branches of credit institutions, branches of foreign banks, and individuals who are Managers or Executives of credit institutions, General Directors (Directors) of branches of foreign banks with bad debt ratios below the maximum level as decided by the Governor, may only be considered.- Collectives and individuals in the Banking sector recommended for “Certificate of Merit by the Prime Minister of the Government of Vietnam” associated with the standards for Ministerial, sectoral, provincial, or central mass organization certificates of merit shall be evaluated based on “Certificate of Merit by the Governor” or annual specialized activity commendations from ministries and sectors for collectives and individuals belonging to the Banking Inspectorate and Supervision Agency, Banking Academy, Banking University of Ho Chi Minh City, and party and mass organizations.- The period for submitting subsequent commendation applications is calculated from the time the achievement is recognized in the previous commendation decision.

More details can be found in Circular 08/2018/TT-NHNN, effective from May 15, 2018.

- Thanh Lam -

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