Request an increase in credit levels with key petroleum businesses

Governor State bank Vietnam has just asked commercial banks to implement a number of solutions in 2022 to ensure credit capital to serve petroleum importers.

Accordingly, the State Bank requires commercial banks to actively balance capital sources, consider creating conditions for additional credit limits granted to key petroleum trading enterprises according to the list published on the website. of the Ministry of Industry and Trade, especially the leading petroleum trading enterprises assigned by the Ministry of Industry and Trade to increase their petroleum import volume to promptly import petrol and oil according to the import quota, contributing to ensuring the supply of petrol and oil. for the domestic market.

In addition, commercial banks promote reform, simplify internal processes and procedures, shorten credit approval time; diversifying types of credit products suitable to ensure safety and comply with legal regulations.

The State Bank also requested commercial banks to consider, appraise and decide to grant credit, increase credit limit for petroleum business enterprises following the current credit mechanism. In case of problems arising during the implementation process, they shall promptly report them to the Governor of the State Bank for consideration and handling.

The Governor of the State Bank also requested the Chairman of the Board of Directors, the General Director of commercial banks to closely direct the whole system; strengthen leadership, inspection, supervision, timely response to credit capital needs of key petroleum trading enterprises that fully meet the conditions as prescribed; strictly handle cases of violations and irresponsibility in credit.

For banks with outstanding loans, the State Bank is required to report to the Credit Department on a monthly basis. economy (State Bank of Vietnam) situation of credit granting to petroleum trading and importing enterprises.

The Governor of the State Bank made the above request in order to implement the direction of the Prime Minister on the implementation of tasks and solutions according to his/her competence in order to ensure the supply of petrol and oil for the domestic market. out short.

Over the past time, in the face of complicated fluctuations in the world petroleum market and domestic petroleum supply and demand movements, the Prime Minister has implemented many solutions to stabilize the petroleum market and ensure petroleum supply. for the domestic market, supporting socio-economic recovery and development.