10 Banks to Pilot Basel II Implementation Roadmap

5:03:40 PM | 8/14/2014

The State Bank of Vietnam (SBV) recently selected 10 commercial banks for piloting the Basel II Implementation Roadmap. The selected banks include Bank for Investment and Development of Vietnam (BIDV), Vietnam Bank for Industry and Trade (VietinBank), Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam Technological and Commercial Joint Stock Bank (Techcombank), Southeast Asia Commercial Joint Stock Bank (ACB), Vietnam Prosperity Bank (VPBank), Military Commercial Joint Stock Bank (MB), Maritime Bank, Sacombank and Vietnam International Commercial Joint Stock Bank (VIB). They will pilot capital and risk management methods according to Basel II standards.
The banks will complete the pilot by 2018 and the Basel II application will be deployed at other commercial banks in the country.
Basel II is a new, higher level for Vietnamese banks in accordance with Basel Accords standards set by the Basel Committee on Banking Supervision (BCBS). The application is flexible to different countries but the overall spirit is tighter regulations on banking operations.