Mr. Lai Huu Phuoc, Chief Inspector of the State Bank of Vietnam – Photo: SBV Inspectorate |
Strengthening Financial Discipline to Ensure a Safe Banking System
Mr. Lai Huu Phuoc, Chief Inspector of the State Bank of Vietnam (SBV), shared that in the context of economic challenges, strengthening discipline, transparency, and efficiency in the banking sector is crucial to maintaining macroeconomic stability.
The SBV has been intensifying inspection, supervision, and violation handling to ensure the safe and healthy operation of the banking system, in compliance with legal regulations.
From the beginning of 2025 until now, the banking industry’s inspection sector has conducted 468 inspections and examinations, including 441 planned and 27 impromptu inspections.
This figure demonstrates the SBV’s proactive and resolute approach to supervising the activities of credit institutions, especially during a period of potential risks in the financial and monetary markets.
So far, the banking industry’s inspection sector has issued 310 inspection conclusions, detecting and handling violations by 276 organizations and 1 individual. Of these, 73 administrative penalty decisions have been issued, with a total fine of over VND 10.4 billion. This serves not only as a strong deterrent but also as a stern message about enhancing discipline and order in the banking system.
The issued conclusions have been highly appreciated by the SBV’s leaders, contributing to rectifying the inspected entities’ operations and strengthening legal compliance, thus ensuring the safety and soundness of the financial and banking system.
“In the past, inspections have been innovated to focus on key areas and targets, matching available resources,” emphasized Mr. Phuoc. “The SBV Inspection focuses efficiently on subjects and fields with high risks, prone to negative issues, corruption, and violations.”
Special attention during inspections is given to areas such as credit management in the real estate sector, corporate bond issuance, improper lending, interest rate violations, deposit insurance, and activities with signs of money laundering. Additionally, the utilization of technology, big data, and risk analysis tools has enhanced the accuracy, timeliness, and effectiveness of the inspection process.
Toan Thang
– 10:07 01/08/2025
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