Trang Chủ
Fulfilling the mission of protecting the legitimate rights and interests of depositors
Established in 1999 and officially came into operation in 2000, after nearly 25 years of construction and growth, DIV always strives to fulfill its assigned tasks, focusing resources to meet the needs of customers, respond to important professional activities.
Professional activities of DIV directly relate to protecting the legal rights of depositors include: Monitoring, examining and supervising insured institutions in compliance with legal regulations regarding deposit insurance, making suggestion to the State Bank of Vietnam (SBV) to resolve violations; synthesizing, analyzing and processing information about insured institutions to detect and propose to the SBV to promptly resolve violations of regulations on safety of banking operations and risks causing insecurity in the banking system; participating in the special control process for insured institutions according to regulations of the SBV; participating in management and liquidation of assets of insured institutions according to Government regulations; making special loans to specially controlled credit institutions (CIs) to support liquidity, according to regulations of the SBV and approved recovery plans, purchasing long-term bonds of supporting credit institutions. When an insured institutions falls into a state of insolvency or bankruptcy, DIV reimburses the depositor in accordance with the provisions of the law; disseminates legal policies on deposit insurance to enhance public trust, contributing to ensure the safety of the system of credit institutions.
Currently, DIV protects more than 110 million depositors at 1,279 insured institutions, including: 96 banks and foreign bank branches, 1,178 People's Credit Funds (PCFs), 01 cooperative bank and 04 microfinance institutions.
DIV also performs well in deposit insurance premium collection management. The total amount of deposit insurance premium collection in quarter I and II of 2024 is 5,985 billion VND, reaching over 53% of the plan assigned by the SBV. In the second quarter of 2024, DIV waives deposit insurance premium for 35 specially controlled insured institutions, including 5 commercial banks and 30 PCFs with a total amount of over 100 billion VND.
In terms of capital, by the end of June 2024, the total capital of DIV reached more than 117 trillion VND, which increases nearly 15% over the same period in 2023 and more than 7% compared to December 31, 2023, of which the professional reserve fund is more than 111 trillion VND, which increases more than 15% compared to the same period in 2023. With a good growth in financial resources accumulated over the years, DIV is ready to reimburse depositors in necessary cases and effectively participates in the process of restructuring the credit institution system.
Regarding reimbursement, since 2013, DIV has not incurred any reimbursement obligation to any insured institutions. However, DIV still focuses closely on insured institutions that are weak PCFs under special controlled; proactively monitors and closely follows the process of resolving legal entities of the SBV in provinces and cities and the conclusions and directions of the Governor of the SBV for timely resolution measures.
DIV has proactively carried out new tasks in the process of participating in special control of credit institutions, doing research, building and perfecting the system of administrative and operating documents on special control in compliance with the Law on credit institutions 2024. In addition, DIV is currently appointing 34 officers to join the Special Control Committee at insured institutions; building a level of reserve capital to be proactive in financial resources and be ready to lend especially to credit institutions that are eligible for loans from the special controlled PCFs; supervising, analyzing, evaluating, and providing safety warnings for the PCFs system.
DIV has directed units throughout the system to continue to carry out continuous and regular supervision of 100% insured institutions; complete 100% of the periodic examination plan and follow the direction of the Governor of the SBV... to promptly advise, propose and recommend to the SBV on arising issues that may cause risks and insecurity in the credit institution system. By the end of May 2024, DIV has completed examine of 100 out of 253 insured institutions, 20 out of75 PCFs according to the direction of the SBV.
DIV performs deposit insurance communication policies through many forms of media, especially targeting small depositors who lack information... help them improve their financial knowledge to make accurate choice in depositing appropriate money at credit institutions. DIV has expanded the implementation of communication activities and developed a project to communicate deposit insurance policy with the goal of striving to have 45% and 55% of depositors who grasp the core contents of deposit insurance policy by 2025 and 2030 respectively.
With the above results, DIV has become an important fulcrum for credit institutions in consolidating and maintaining capital mobilization activities; a channel to supervise and advise the SBV to ensure the safe and healthy operations of credit institutions.
Deploy the Deposit Insurance Development Strategy, contribute to ensure the safety and health of banking operations.
To enhance the role of the deposit insurance policy and activities of the deposit insurer in Vietnam, the Prime Minister has issued the Deposit Insurance Development Strategy to 2025, with orientation to 2030 in Decision No. 1660/QD -TTg on December 30, 2022. This strategy has determined the position and affirmed the role of DIV in the coming period, which is to contribute to stabilizing the financial and banking system and promoting the socio-economic development of the country. This is the first time during nearly 25 years of implementing deposit insurance policy in Vietnam, the viewpoints, goals, tasks and solutions for each period are specified in a medium and long-term, opening up new perspectives for this specific field of public policy.
The deposit insurance strategy maintains the goal of protecting the legitimate rights and interests of depositors, contributing to maintaining the stability of the system of credit institutions and foreign bank branches, ensuring safe development and healthy banking operations. In addition, strengthen the role of DIV in the process of participating in restructuring weak insured institution associated with resolving bad debt. DIV will gradually innovate in the direction of meeting the principles in the Core Principles for effective deposit insurance systems of the International Association of Deposit Insurers, in accordance with the overall orientation of the Banking Industry Strategy and practice in Vietnam. At the same time, the rapid and sustainable development of the deposit insurance organization will be the result of the application of science, modern technology and innovation coupled with the development of high-quality human resources.
The overall goal for the development of the deposit insurance system in Vietnam is: to protect the legitimate rights and interests of depositors, actively contribute to maintain the stability of the system of credit institutions and branches foreign banks, ensure the safe and healthy development of banking activities; improve quality and efficiency in deposit insurance activities including granting certification, reporting information, supervision, examination, participation in special control, early detection and warning of potential risks for insured institutions; participate in effective restructuring of weak insured institutions; calculate and collect deposit insurance premium, manage capital and investment, promote deposit insurance policy, and reimburse deposit insurance in accordance with international practices and provisions of Vietnamese law; strengthen the financial capacity of deposit insurance organization to affirm the State's commitment and enhance depositors' confidence in deposit insurance policy.
In addition to the general goal, the Deposit Insurance Development Strategy has set specific, closely aligned, and quantified goals for deposit insurance operations to increasingly protect the legal and legitimate rights and interests of depositors' dignity, strengthening public confidence in the financial and banking system and contributing to the stable development of the economy and society, including: Striving for the rate of depositors that are fully insured depositors reaches 92% - 95%, ensuring compliance with international practices; striving to shorten the actual reimbursement time, from the time the insurance payment obligation arises to 30 working days by 2025 and 15 working days by 2030, in order to help depositors have early access to their deposit when the insured institution is resolved; strive to achieve the goal that by 2025, 45% and by 2030, 55% of depositors will grasp the core contents of the deposit insurance policy.
To implement the above-mentioned orientations, the Deposit Insurance Development Strategy identifies 4 main groups of tasks and solutions, including: perfecting the legal basis for deposit insurance, effectively applying deposit insurance policy tools; effectively deploy deposit insurance activities; and develop the deposit insurer. In the period 2022-2025, the Deposit Insurance Development Strategy has determined that the focus on perfecting the legal basis is to develop the amended and supplemented Law on deposit insurance and related laws as well as build a system of guiding documents and law enforcement. In the period 2025 - 2030, the process of building, supplementing, and editing to perfect the legal basis related to deposit insurance will continue to be carried out. In particular, focus on amending and supplementing the Law on deposit insurance that after 12 years of implementation has revealed a number of problems, obstacles as well as potential limitations to the prospects of developing the banking system. The Law on deposit insurance needs to be amended and supplemented in accordance with operational situation and international practices, in order to create a clear corridor for the effective implementation of deposit insurance policy.
In addition, DIV needs to strengthen coordination with relevant agencies, ministries, branches as well as strengthen coordination between units throughout the system. Focus on sharing and exchanging information to support the policy implementation process. Improve management capacity, innovate leadership and direction methods at all levels in all activities of DIV, ensuring science, efficiency, practicality, and closeness to reality. Promote initiative and creativity, promote research and application of technology associated with professional activities to increase work efficiency. Enhance the application of information technology; advances in digital transformation to serve professional work with high efficiency.
The DIV needs to focus on resources to complete tasks and solutions before the end of the first phase of the Deposit Insurance Development Strategy to 2025, with orientation to 2030, especially actively participating in the revision of the Law on deposit insurance and improving professional efficiency, thereby better protecting the legitimate rights and interests of depositors, ensuring the safe and healthy development of banking activities./.
Communication department
