The State Bank will be strict with cross-ownership, BOT lending

The bank of Viet Nam Recently, there was an additional report to the 15th National Assembly deputies, the 3rd session on reviewing the implementation of Resolution No. 42/2017/QH14 on piloting bad debt settlement of organizations. Credit and propose to improve the legal system on handling bad debts and collateral.

The report of the State Bank of Vietnam shows that the impact of the COVID-19 epidemic has been and is posing great challenges to the control of bad debts and the safety of banking operations in the coming time.

Regarding the issue of cross-ownership, the ownership of credit institutions has become more transparent and public, however, it is still difficult in case major shareholders and related persons of major shareholders deliberately conceal . This leads to the fact that credit institutions can be manipulated and dominated by these shareholders, potentially posing the risk of a lack of transparency in the credit institution’s operations.

The State Bank also affirmed that it will firmly handle the issue of group interests, lending to BOT and BT projects.

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