On July 19, 2017, the Prime Minister of Vietnam issuedDecision No. 1058/QĐ-TTg on approving scheme for “Restructuring system of credit institutions associated with settlement of bad debts in the period of 2016-2020”.
Roadmap to implementation is as follows:
2017 - 2018:
- Deploying Basel II applying standardized approach to 10 commercial banks;
- Deploying solutions to improve financial capacity, transform business models, governance and operations at credit institutions;
- Economic groups, state corporations, state enterprises which own shares or contributed capital at credit institutions shall complete the divestment at credit institutions;
- Improve the organizational structure and operation of VAMC; increase charter capital for VAMC to reach VND 5,000 billion.
2019 - 2020:
- At least 12 to 15 commercial banks implementing Basel II;
- Basically settle the bad debts which need to be dealt with;
- Increase charter capital of VAMC to reach VND 10,000 trillion;
- Form commercial banks capable of competing in the region and the world.
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E-mail: | info@lawnet.vn |