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Protecting deposits at 1,280 announced institutions
In 2023, immediately after the Prime Minister approved the Deposit Insurance Development Strategy to 2025, with orientation to 2030, DIV issued and reported to the SBV on the Action Program to implement the strategy. At the same time, DIV thoroughly grasped and assigned specific tasks to units throughout the system to organize the implementation of the detailed plan for implementing the action program to implement the deposit insurance development strategy.
Thanks to closely following the direction of superiors, the DIV Board of Directors has led and directed units to focus on drastic implementing assigned tasks and achieved a number of outstanding results such as: consulting, Complaint to the SBV to submit to the Prime Minister for approval of the charter capital of VND 5,281 billion, which increased nearly 15% compared to 2022. The total assets of DIV reached more than 110 trillion VND, which increased nearly 15% over the same period in 2022. Professional reserve fund reached more than 100 trillion VND, which increased 14.8% over the same period in 2022. The business plan targets assigned by the SBV also saw the exceeds with the total amount of DI premiums collected in 2023 being over 10 trillion VND, the total temporarily idle capital of DIV invested over 100 trillion VND VND, an increase of over 15% compared to December 31, 2022.
In 2023, DIV has focused on synchronously and effectively implementing professional activities according to functions and tasks in an effort to contribute to the overall achievements of the banking industry.
Currently, DIV protecting depositors at 1,279 institutions insured institutions. DIV has also directed units throughout the system to continue to regularly supervise 100% of public institutions, strengthen supervision to detect and early warn public institutions that are at risk, causing uncertainty in the banking system, completing 100% of the 2023 examination plan approved by the Board of Directors of the DIV for 266 announced institutions and completed 100% of the inspection plan for PCF according to the direction of the SBV for 60 PCFs.
DIV has expanded the implementation of public awareness activities and developed a project to communicate deposit insurance policies with the goal that by 2025, 45% and by 2030, 55% of depositors will grasp the core content of deposit insurance policy.
Regarding international cooperation activities, DIV successfully hosted and organized the international technical assistance workshop of the Asia Pacific Regional Committee (APRC) - International Association of Deposit Insurers (IADI) in 2023 with the theme topic "Strengthening the role of the deposit insurers in early detection and timely intervention".
DIV organized and coordinated to send staff to attend 69 training courses with more than 1,800 participants to improve the quality of profession, in accordance with the development orientation of DIV, especially participating in the process of restructuring of weak credit institutions.
Key tasks in 2024
At the conference to deploy the 2024 tasks of DIV, based on the direction of the SBV and First Deputy Governor Dao Minh Tu, through assessment of the actual situation and requirements, DIV clearly identified key tasks in 2024, specifically as follows:
For research activities, building mechanisms, policies and long-term strategies, DIV coordinates with units under the SBV and relevant units to research and propose policies to amend and supplement the Law on Deposit Insurance .
DIV continues to deploy and implement the detailed plan to implement the action program to implement the deposit insurance development strategy to 2025, with orientation to 2030; report to the SBV on the results of implementing tasks, solutions and goals set out in the deposit insurance development strategy to 2025, with orientation to 2030.
In 2023, research and develop a 5-year production, business and investment development plan of the DIV for the new period at the request of the SBV to ensure compliance with the banking industry development strategy, deposit insurance development strategy, five-year socio-economic development plan for the period of 2021 to 2025.
Promulgate the digital transformation plan at DIV until 2025, with orientation to 2030 to ensure compliance with the digital transformation plan for the banking industry in general and the development orientation of DIV in particular.< /p>
Regarding professional activities, DIV determines to continue to focus on implementing deposit insurance operations such as: granting and revoking certificates of participation in deposit insurance, remote monitoring and on-site examination, and performing examination of PCF according to the direction of the Governor of the SBV, improving financial capacity and growing the professional reserve fund, exempting deposit insurance fees according to regulations for a number of specially controlled insured institutions, proactively building reimbursement plans and contingency plans to always be ready in situations where reimbursement obligations arise. Implement special loans to specially controlled credit institutions that meet all regulations.
In addition, DIV will maximize its role in the process of restructuring credit institutions, prepare all resources to participate in restructuring and resolving PCFs according to the direction of the SBV, ensure legal rights and interests of the depositor. Continue to effectively implement assigned tasks in the program and plan to implement Directive No.06/CT-TTg of the Prime Minister and the Project to consolidate and develop the PCF system to 2020, with orientations by 2030.
Strengthen the role of DIV in participating, supporting, and weak resolving organizations participating in DI that are placed in the special control board, including: Appointing staff to join the special control board; participate in the administration and management of PCFs under the direction of the SBV; participating in giving opinions on the plan to resolve legal entities of PCFs that are subject to special examination at the request of the SBV; make special loans; complete the construction of software to serve special control operations.
Overcome difficulties, be steadfast and proactive in achieving tasks in 2024
In 2024, DIV will face many difficulties and challenges, but need to continue to thoroughly grasp and closely follow the directions and administration of the Government, the SBV; development orientations of the banking industry strategy in general and the deposit insurance development strategy in particular, thereby building directions and solutions to implement the set goals.
In addition, DIV needs to strengthen coordination with relevant agencies, ministries, and units as well as strengthen coordination between units throughout the system. Do a good job of sharing and exchanging information to support the policy implementation process.
Improve management capacity, innovative leadership and direction methods at all levels in all activities of DIV, ensuring science, efficiency, practicality, and closeness to reality; promote initiative and creativity in resolution tasks.
To fully and synchronously implement the proposed key tasks, units under the DIV need to develop and organize the implementation of detailed operational plans of units in the entire system on the basis of the operational plan . The general actions of DIV have been approved by the Board of Directors of DIV to ensure full and synchronous implementation of key tasks. DIV will organize preliminary periodic and final reviews to evaluate and learn from the implementation of the goals, tasks and solutions of the 2024 working plan, thereby clearly analyzing the considerations, limitations, objective and subjective causes to promptly adjust when necessary for new arising problems.
Promote research and application of technology associated with professional activities to increase work efficiency. Enhance the application of information technology; advances in digital transformation serve professional work with high efficiency.
In order to improve the quality of human resources not only in 2024 and the following years, DIV pays attention to and promote the training and fostering of staff; select and develop a team of competent, responsible and professional staff. Arranging the right staff for the right job, suitable to their abilities and strengths; assign specific tasks to each unit and individual to clearly define responsibilities, contributing to increasing efficiency in performing assigned tasks.
DIV will organize and launch emulation movements, well implement democratic regulations at the groundswells, ensure openness, transparency, and timely reward and discipline in organizing and implementing plans and activities to enhance the effectiveness of the proposed working plan.
Aiming to achieve and exceed the 2024 working plan, the entire DIV system needs to focus and unite with the highest efforts and determination, continuing to successfully implement the political tasks set out to protect the legitimate rights and interests of depositors, contributing to maintaining the stability and safe and healthy development of the system of credit institutions, promoting to become an advanced deposit insurance organization according to international practices./ .
Communication Department
