Bank does not invest, buy and sell bonds of Tan Hoang Minh Group

The prosecutions and arrests of some of the above violators stock market Recently, the corporate bond market and the corporate bond market have shown the determination of the management agencies to clean and healthy the financial market, especially the operation of the bond market – a channel of mobilization. new capital movement of the national economy.

Not only once, twice, but the Ministry of Finance has repeatedly warned people to learn carefully when participating in the corporate bond market. Because many people are confused as the bank that guarantees corporate bonds or has appraisal from these financial institutions. That is the misconception of many non-professional investors.

A hot story related to the State Securities Commission’s decision to cancel 9 separate bond offerings of the group of companies under the Group. Tan Hoang Minh is an example.

In 2021, there will be a total of 964 domestic corporate bond issuances, with a total value of 595 trillion dong, becoming an effective long-term capital mobilization channel for the economy. Illustration – Photo: VNA.

SHB and Vietinbank are the first banks to officially confirm that they are not involved in buying, selling or investing in bonds related to Tan Hoang Minh Group.

Mr. Nguyen Viet Bao – Director of SHB Banking Business Center said: “I emphasize that SHB does not provide services related to the issuance of guarantees, payment guarantees or investment in Tan Hoang Minh bonds as well as investment in Tan Hoang Minh bonds. redistributing Tan Hoang Minh bonds. HSB merely provides account management services and secured card management services”.

Regarding the decision of the State Securities Commission to cancel the private placement of the group of companies under the Tan Hoang Minh Group, Vietinbank affirms that our bank does not underwrite, does not guarantee payment, Vietinbank does not provide distribution services for the above bond lots.We Vietinbank provide account management and asset management services for bond issuances of 3 companies under Tan Hoang Minh Group. The service provision complies with current laws,” said Mr. Le Thanh Tung – Member of the Board of Directors of Vietinbank.

The bond investment of banks is also closely monitored by current regulations, the Law on Credit Institutions, the Law on Securities… And especially from the beginning of 2022, the State Bank has issued an Notice 16, only allowing credit institutions to invest in bonds when the bad debt ratio is below 3%.

Corporate bonds are an important capital mobilization channel for the economy, so the healthy development of this market will open up development capital for businesses and the economy in the medium and long term.

Ensuring a healthy corporate bond market

Over the past time, the Ministry of Finance has made many drastic moves in strengthening the management, supervision, inspection, examination and correction of market activities and continuously issued warnings to investors. investment to help the market develop safely and sustainably.

According to the Vietnam Bond Market Association, in 2021, there will be a total of 964 domestic corporate bond issuances, with a total value of 595 trillion dong, becoming an effective long-term capital mobilization channel for the economy. economic.

Under current regulations, privately issued corporate bonds can only be issued and traded among professional securities investors. These are financial institutions or individuals with securities practice certificates; holding a list of securities listed or registered for trading with a minimum value of VND 2 billion; individuals whose taxable income in the latest year is at least 1 billion dong.

Complying with this regulation is a way to protect retail investors compared to the past, avoiding the absence of experience and ability to assess risks.

The Ministry of Finance has repeatedly warned people to carefully learn information when participating in the corporate bond market. Illustration – Photo: VOV.

The Ministry of Finance has repeatedly recommended that individual investors should not purchase individual corporate bonds without the ability and resources to fully assess the risks of the bonds; closely monitor the disbursement progress, capital use purposes, and financial situation of the issuer after investing in and buying bonds.

According to the Ministry of Finance, the recent violations in the stock market and corporate bond market are very unfortunate events, but through that, it also shows the determination of the management agency in clarifying the law. transparency in the stock market and corporate bond market.

The Ministry of Finance also requested the State Securities Commission, the Accounting and Auditing Supervision Administration, and the Inspectorate of the Ministry of Finance to strengthen inspection and supervision of the implementation of legal provisions in the audit work. listed enterprises.

The tightening of regulations and strict handling of violating enterprises will bring the issuance of real estate bonds into order.

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