ACB VSIP2 Binh Duong received 9 mandatory recommendations for correction from the Inspection agency

The inspection conclusion stated that ACB VSIP2 Binh Duong has made efforts to develop and implement a series of solutions to increase operations and control credit quality.

"Basically,ACB VSIP2 Binh Duong has complied with the provisions of the law, the banking industry and ACB's regulations; has implemented risk control in operations and promoted the advantages and strengths of the Branch," quoted from the conclusion document.

The branch is currently operating 01 Head Office and 01 Ben Cat Transaction Office, with a total of 47 staff.

Besides the advantages, the inspection conclusion also pointed out some shortcomings and limitations in credit granting activities: loan appraisal, disbursement, inspection and post-loan monitoring are not strictly ensured.

Regarding compliance with legal regulations on foreign exchange activities and gold trading, one-way money transfers, and overseas money transfers; Regarding compliance with legal regulations on anti-money laundering and anti-terrorism financing: there are still some shortcomings and limitations.

The cause was determined by the Inspectorate to come from the young staff resources, which often change and have to receive and manage many loan applications, leading to incomplete appraisal and collection of documents proving the purpose of capital use.

The branch has not strictly complied with regulations on lending and credit granting procedures; appraisal, inspection and control before, during and after lending are not thorough, leading to incomplete and unsecured collection of documents proving the source of debt repayment and documents proving the purpose of loan use.

From the above limitations and causes, the Inspection Agency determined that the Branch's Board of Directors, relevant Departments and Professional Divisions are jointly responsible for the shortcomings, errors and limitations related to the appraisal, submission, control and loan documents; and shortcomings in other professional activities.

Individuals involved in the above-mentioned shortcomings, errors and violations shall be personally responsible according to their duties and authority in performing each assigned task, job and each file and document when signing, controlling, submitting, appraising, re-appraising and approving for each customer and at each time.

The Chief Inspector of the State Bank Region 2 has requested ACB VSIP2 Binh Duong to implement 9 recommendations and 2 suggestions to overcome existing problems and limitations to help ACB VSIP2 Binh Duong operate safely and effectively according to regulations.

Source: https://daibieunhandan.vn/acb-vsip2-binh-duong-nhan-9-kien-nghi-bat-buoc-khac-phuc-tu-co-quan-thanh-tra-10390182.html