As a state-owned financial institution with the function of protecting the legitimate rights and interests of depositors, contributing to maintaining the stability of the credit institution system, and ensuring the safe and sound development of banking activities, the Vietnam Deposit Insurance Corporation (BHTGVN) has actively operated, played its role, and achieved certain accomplishments.
BHTGVN helps strengthen depositors' confidence.
In the context of increasingly deep international integration, the Vietnamese Dong is easily affected by fluctuations in strong foreign currencies. Currently, the Vietnam Deposit Insurance Corporation (BHTGVN) insures deposits denominated in Vietnamese Dong. This is also one of the factors contributing to combating dollarization and enhancing confidence in the national currency. Furthermore, the financial market operates at a fast pace and with a large volume; the number of bank mergers and transformations may increase, causing concern among depositors. The BHTGVN's protection of individual deposits at participating institutions with a reasonable limit creates a sense of security, contributing to the mobilization of capital and preventing sudden withdrawals that threaten the liquidity of banks.
Contributing to maintaining system security.
Accordingly, deposit insurance is an effective policy tool of the State Bank of Vietnam and the Government . Through its supervisory and inspection activities of participating deposit insurance institutions, the Vietnam Deposit Insurance Corporation (VDIC) detects signs of risk, weaknesses, and violations of regulations on deposit insurance and banking safety, thereby proposing appropriate solutions or reporting to the State Bank of Vietnam for appropriate action. In recent years, the VDIC has strengthened its inspection, supervision, and early warning activities.
Encouraging fair competition among credit institutions.
In the race for customer market share, large banks typically hold the competitive advantage. However, with the introduction of deposit insurance policies, that gap has gradually narrowed, as the role of the Vietnam Deposit Insurance Corporation (DIC) is to contribute to ensuring the safety of the entire system, not just individual credit institutions. This creates a level playing field in competition among credit institutions.
Deposit insurance policies contribute to enhancing the reputation of credit institutions. The presence of the Vietnam Deposit Insurance Corporation (DIC) concretely demonstrates the Vietnamese government's commitment to protecting depositors. Participation in deposit insurance helps increase the credibility of credit institutions, making Vietnamese credit institutions increasingly modern and operating soundly.
Furthermore, the Vietnam Deposit Insurance Corporation (BHTGVN) has developed a deposit insurance model that aligns with international practices. Currently, more than 100 countries worldwide have established deposit insurance systems. Over the past period, BHTGVN has actively implemented the "Fundamentals for Developing Effective Deposit Insurance Systems" developed by the International Association of Deposit Insurers (IADI), thereby gradually meeting international standards. This has helped enhance the reputation of the Vietnamese banking system and strengthen its ability to attract foreign investment.
Furthermore, on December 20, 2022, Deputy Prime Minister Le Minh Khai signed Decision 1660/QD-TTg approving the Strategy for the Development of Deposit Insurance until 2025, with a vision to 2030. This strategy sets out objectives and solutions for the Vietnam Deposit Insurance Corporation (VDIC) to improve the quality and efficiency of its operations in line with international practices and Vietnamese law.
To date, the Vietnam Deposit Insurance Corporation (BHTGVN) is protecting approximately 8 million billion VND in deposits held by depositors at 1,280 participating institutions. After 24 years of operation, BHTGVN has paid out nearly 27 billion VND to 39 people's credit funds with 1,793 depositors. The timely payment of insurance claims demonstrates BHTGVN's role in protecting the legitimate rights of depositors, building public trust, and contributing to preventing chain reactions of failures in the banking system.
Mr. Vu Van Long, Deputy General Director in charge of operations at Vietnam Deposit Insurance Corporation (BHTGVN), stated that after 24 years of operation, with its role and authority expanding, BHTGVN is striving to perfect its strategic goals, working alongside credit institutions to seize opportunities, overcome challenges, and continue to innovate in all aspects of its operations.
Source
![[Image] Close-up view of the 10-lane road connecting to Long Thanh Airport](https://vphoto.vietnam.vn/thumb/402x226/vietnam/resource/IMAGE/2026/04/04/1775291871988_ndo_br_1-resize-5690-jpg.webp)
Comment (0)