ACB Hue violated regulations related to credit granting activities.

SKĐS - The Inspectorate of the State Bank of Vietnam, Region 9, has pointed out several errors and violations at ACB Bank in Hue and made recommendations to ensure efficient operation.

The State Bank of Vietnam's Inspection Department, Region 9, has just announced the conclusions of its inspection of Asia Commercial Bank (ACB ) Hue Branch.

The inspection report highlighted achievements at ACB Hue, including: credit granting activities, loan classification, provisioning and use of provisions to manage risks, loan restructuring, interest and fee waivers/reductions; bad debt resolution activities, and the recovery of off-balance sheet debts after risk management.

ACB Bank (illustrative image).

ACB Hue basically complies with regulations on lending, guarantees, debt classification and risk provisioning, and uses provisions to handle risks in accordance with regulations. The handling of bad debts and recovery of off-balance sheet debts after risk management is given attention and actively pursued.

Regarding the compliance with legal regulations on anti-money laundering, counter-terrorism financing, and overseas money transfers by relevant organizations and individuals, the inspection team selected a sample of several customer cases involved in foreign exchange transactions. It was found that during the inspection period, ACB Hue had generally complied with regulations on anti-money laundering and counter-terrorism financing as stipulated by ACB, the State Bank of Vietnam, and the Government .

Besides the achievements, the Inspectorate of the State Bank of Vietnam, Region 9, also pointed out some shortcomings at ACB Hue.

ACB Hue Branch Inspection Report.

Specifically, the inspection revealed several errors and violations at ACB Hue related to credit granting activities, such as those concerning loan appraisal and decision-making, monitoring and supervision of loan utilization, and discrepancies and risk warnings in some credit granting cases aimed at minimizing the risk of overdue and bad debts, and ensuring the safety of credit operations.

Based on the inspection results, the Chief Inspector of the State Bank of Vietnam, Region 9, issued 9 recommendations (6 for ACB Hue and 3 for ACB) requesting the units to implement measures to mitigate risks and ensure safe and efficient operations in accordance with the law.

Source: https://suckhoedoisong.vn/acb-hue-vi-pham-lien-quan-hoat-dong-cap-tin-dung-169260529071714222.htm