The State Bank of Vietnam’s Inspection Agency released its findings on May 30, noting that Vietnam Export Import Joint Stock Commercial Bank (Eximbank, HOSE: EIB) largely adhered to legal regulations in its gold trading activities and gold bar trading operations as permitted by the State Bank. The bank complied with reporting requirements, including providing data on gold bar trading and gold status reports, displayed gold buying and selling prices, and largely complied with anti-money laundering regulations. Additionally, Eximbank maintained proper documentation, invoices, and tax declarations as per legal requirements.
However, the inspection identified some administrative violations in the bank’s gold trading activities.
In response, Eximbank has proactively developed remedial measures, including focusing on addressing the issues raised in the inspection conclusions, reviewing and improving gold trading procedures to ensure compliance with current regulations, strengthening internal inspection and control, and providing retraining for relevant personnel to enhance compliance across the system.
A representative of Eximbank affirmed: “The bank is committed to seriously and receptively addressing the aforementioned administrative violations. We are also dedicated to transparency and prioritizing the interests of our customers and shareholders. We are currently implementing initiatives to strengthen risk management and enhance the capabilities of our internal control and audit systems to improve the effectiveness of our bank’s governance.”
– 10:12 31/05/2025
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