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Strengthening financial resources, managing and developing the capital safely
As of June 30, 2023, the total operating capital of DIV reached more than VND 102 trillion, an increase of more than 7% compared to the same period in 2022; the operational reserve fund reached more than 96 trillion dong, an increase of more than 16% compared to the same period in 2022. DIV invests temporarily idle capital in accordance with regulations, combining flexible investment in the primary market and secondary market to develop financial resources. As of June 30, 2023, the total temporarily idle capital of DIV that has been invested is more than VND 99 trillion, an increase of more than 7% compared to the end of 2022. The use of capital and funds is carried out for the right purposes and in accordance with the regulations of the State and DIV.
Issuance and withdrawal of certificates of participation in deposit insurance
In the first 6 months of 2023, DIV issued 131 copies and re-issued 10 certificates of deposit insurance participation according to the request of insured institutions, ensuring compliance with the provisions of the law. As of June 30, 2023, DIV insures 1,280 insured institutions, including 96 commercial banks and foreign bank branches, 1 cooperative bank and 1,179 people's credit funds (PCFs) and 4 microfinance institutions.
Strengthening supervision and examination of insured institutions
DIV continuously and regularly supervises 100% of insured institutions under its management; enhances and improves supervisory reports to detect and warn insured institutions that are at risk and cause unsafety in the banking system.
Besisde supervision, the DIV has carried out periodical examinations on 128/278 insured institutions, reaching more than 46% of the plan; examines 12/60 PCFS under the direction of the Governor of the State Bank of Vietnam (SBV) in 2023, reaching 20% of the plan.
The DIV regularly updates the status of the operation of problematic PCFs in order to promptly advise and maximize the role of the DIV in effectively participating in the process of supervision and examination and resolving weak PCFs according to the direction of the government and the direction of the SBV, maintaining the safe and healthy operation of the PCFs system.
Collecting deposit insurance premiums exceeds the set plan
Total deposit insurance premiums collected in the first 6 months of 2023 were more than 5,000 billion VND (Quarter I: more than 2,400 billion VND, Quarter II: more than 2,600 billion VND), which increased 2.6% compared to the same period last year, nearly exceeding 6% compared to the plan for the first 6 months of 2023 and achieved more than 52% of the plan assigned by the SBV in 2023.
DIV waives deposit insurance premiums as prescribed for insured institutions under special control. According to the DIV, in general, the insured institutions have well complied with the regulations on calculation and payment of deposit insurance premiums. In order to collect premiums in accordance with the law and fulfill the target assigned by SBV in 2023, DIV has actively urged and guided insured institution, and at the same time answered questions about problems arising related to the calculation and collection deposit insurance premiums.
Participating in special control of insured institution
For some insured institutions under special control, DIV has appointed staff to join the Special Control Board in accordance with the law. Officers participating in the Special Control Board shall perform tasks at the request of the head of the board and according to their assigned functions and tasks; focus on strengthening the monitoring and supervision of operations, implementing the plan to restructure credit institutions, and at the same time advising and proposing to the Board of directors measures to handle arising situations.
Promoting communication of deposit insurance policies
Deposit insurance communicqation has been actively implemented by the DIV in the direction of diversifying in contents and forms, expanding communication channels, focusing on communication content on the DIV development strategy and policies in amending, supplementing the Law on deposit insurance.
In addition, DIV actively cooperates with SBV branches in provinces and cities, insured institutions, and local organizations to directly disseminate deposit insurance policies to depositors in many provinces and cities across the country,therefore attracting the attention and trust of local people.
Bringing the efforts and determination to well complete the task in 2023
The results achieved by the DIV in the first 6 months of 2023 are evaluated positively. In the remaining months of 2023, DIV will identify key groups of tasks of the organization, including performing the functions and tasks assigned during the development of the Law on Credit Institutions (amended) and the Law on amending, supplementing a number of articles of the Law on Deposit Insurance in order to improve financial capacity so that DIV can effectively participate in the process of resolving weak credit institutions; completing the development of a detailed plan of action programs for the implementation of the deposit insurance development strategy to 2025, with orientiations to 2030, ensuring the completion of the general objectives according to the promulgated Strategy. Continue to be proactive, improve the efficiency of professional activities to ensure compliance with the provisions of the law, towards international standards, determined to successfully carry out the set political tasks, contribute to the successful implementation of the common task of the banking industry.
Communication Department
