DIV Regional Branch in Ho Chi Minh City reviews 2016 performance and executes 2017 tasks: effectively implement deposit insurance policy in the region

10:25-20/04/2017

On 20 February 2017, the DIV Regional Branch in Ho Chi Minh City (the branch) held a meeting to review the 2016 performance and launch the working plan for 2017.

The meeting was attended by Mrs. Nguyen Thi Lanh – Deputy Director in charge of the Representative Office of the State bank of Vietnam (SBV) regional branch in Ho Chi Minh City; Mr. Vo Van Thuan – Deputy Director of Ho Chi Minh city Banking Supervision Agency; representatives from SBV regional branches, commercial banks and people’s credit funds.

Among DIV’s attendees were Mr. Nguyen Quang Huy – Chairman of the Board of Directors; Mr. Ngo Quang Luong – Deputy General Director; Directors from departments and panels of the DIV’s headquarters; Directors as well as all staff members of HCM City regional branch.

The branch’s report on 2016 performance showed its effort to closely follow credit institution’s operations, successfully fulfill the given tasks; supervise 100% of insured institutions under its administration (including 46 commercial banks and 118 people credit funds). Together with supervision activities, the HCMC branch maintained regular contacts with SBV local branches to work out resolution plans and stayed updated on insured credit institutions’ operation, especially PCFs rated at level 4 or 5.

Over the year, the branch completed on-site examination at 67/67 institutions (16 commercial banks and 51 PCFs) as planned. Besides, it also examined the display of the Certificate of deposit insurance participation and compliance with deposit insurance regulations at 105 subsidiaries of BIDV in Ho Chi Minh City. As the result, most insured institutions complied with regulations on deposit insurance. However, some institutions underpaid or overpaid deposit insurance premiums (12/67 and 39/67 respectively). In this regard, reports on specific violations were sent back to insured institutions for timely corrective actions or handling under the branch’s authority; likewise, periodical examination reports were sent to DIV’s headquarter. It is highlighted this year that the branch successfully organized the 15th anniversary.

In terms of the Party’s mission, the branch’s Party Committee led the branch to successfully fulfill is political assignments, timely implement the State and Party’s directives, resolutions and policy guidelines; regularly maintained meetings, ideological education in the organization. The branch’s party cell has recently been upgraded to party committee.

The branch’s trade union also worked with local authorities to make full use of its role in encouraging members to complete their assigned tasks and actively engage in community service and activities. 

These achievements will facilitate the branch in 2017 to further its dynamic and creative performance through: studying and implementing legal documents to ensure the proper execution of deposit insurance policies in the management area;  protecting depositors’ legitimate interests and rights , contributing to the stability of the banking system; disclosing DIV’s plan & orientation as well as the branch’s mission in 2017 to all employees; focusing on the implementation of DIV’s Board of management ‘s guidance; making detailed action plans for specific periods; taking further initiatives to improve work efficiency; maintaining close coordination with provincial and municipal SBV branches as well as the headquarters’ departments and panels to stay updated on the latest operational development; exchanging views to maximize the effective implementation of deposit insurance functions in the management area, partly contributing to the successful achievement of DIV goals and mission.

Speaking at the conference, Mr. Nguyen Quang Huy - Chairman of DIV Board of Directors appreciated the efforts of the branch in effectively implementing 2016 missions and agreed with the branch’s action plan in 2017. Mr. Huy asked the branch to accumulate available resources for 2017 key tasks,  closely coordinate with the State Bank branches in the provinces, cities, with local authorities and credit institutions in the area in order to efficiently implement the Circular No. 34/TT-NHNN dated December 28th, 2016 of the State Bank on exchanging information between SBV and DIV; to be well prepared in finance, human resources and technology to participate in credit institutions restructuring; to promote union’s activities, accelerate emulation, solidarity and joint efforts to achieve the planned targets and successfully fulfill 2017 tasks.

In response, Mr. Duong Quoc Long – Director of DIV’S regional branch in Ho Chi Minh city pledged that the branch would take initiatives and stay creative in operational activities; seriously study and follow regulatory documents as well as instructions from DIV’s board of management; actively implement and successfully complete the 2017 tasks; strongly guarantee the effective implementation of deposit insurance policies in the management area.

Translated by the DIV’s Research and International Cooperation Department