Six banks urged to improve overseas operations

Friday, Aug 15, 2014 17:45

A customer uses Military Bank services. The bank is among six lenders urged to enhance the quality of offshore units' operations. -- Photo

HA NOI (Biz Hub) ─ The State Bank of Viet Nam (SBV) has urged six banks to review their regulations and policies for managing offshore units to enhance the quality of their operations.

Agribank, Vietinbank, Vietcombank and Sacombank have joined Military Bank and Sai Gon-Ha Noi Bank in the setting up of affiliates or branches in China, Cambodia, Laos and Germany.

The SBV gave the lenders up to September 30 to report their respective offshore management situations to the Banking Supervision Agency.

It also required them to formulate plans to improve their ability to compete and ensure the secure development of their respective units abroad, in line with ongoing banking reforms at home. VNS

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