3:26:29 PM | 7/8/2005
The State Bank of Vietnam (SBV) recently announced that it would set up a credit monitoring system, and try utmost to ensure healthier banking activities. The bank will continue reforming credit policies to improve the independence of banks and other financial institutions, said SBV governor Le Duc Thuy.
The SBV will apply new standards to classify bank loans and rulings on loan extensions in line with international regulations, and establish a surveillance mechanism to help banks predict financial risks, and assess the credit quality of banks, and a management system to keep a tight reign on credit to ensure sustainable economic growth, he confirmed.
Vietnamese
