Techcombank Hue was reminded about credit and treasury procedures

There is a phenomenon of transferring money back to customers, which poses a risk of customers using capital for purposes other than those agreed with the bank, according to the conclusion of the State Bank Inspectorate Region 9 with Techcombank - Hue Branch.

The State Bank Inspectorate of Region 9 has just announced the conclusion of the inspection of Vietnam Technological and Commercial Joint Stock Bank - Hue Branch ( Techcombank Hue), in which it pointed out a number of shortcomings in credit granting activities and treasury safety here.

The inspection conclusion said that Techcombank Hue basically complied with current regulations.

In credit activities, Techcombank Hue has kept complete records; complied with the principles of loan conditions; complied with the regulations on guarantees; classified debts and set up risk provisions and used provisions to handle risks for the inspection records. These contents were carried out in accordance with regulations.

Regarding capital mobilization, Techcombank Hue has complied with regulations on capital mobilization interest rates, not exceeding the level prescribed by the State Bank.

Illustration: Nam Khanh

In foreign exchange activities, Techcombank Hue has publicly listed exchange rates, sold foreign currencies at the exchange rates announced by the Head Office and not exceeded the exchange rate regulations of the State Bank.

Treasury security work is carried out seriously, ensuring compliance with regulations in counting, preserving and transporting cash and valuable assets.

On the other hand, the conclusion also pointed out that Techcombank Hue still has some limitations in credit granting activities such as the appraisal work is not strict; the inspection and supervision of loan use still has some limitations, not fully meeting regulations; there is a phenomenon of transferring money back to customers, which potentially risks customers using capital for purposes other than those agreed with the bank, potentially leading to risks for the bank in lending activities.

In addition, there are still some shortcomings in treasury safety work regarding compliance with regulations on entering and exiting the treasury; implementation of regulations related to treasury safety and cash transaction areas.

The inspection agency has made recommendations to Techcombank and Techcombank Hue to overcome shortcomings and ensure safe and effective operations.

What did the Acting General Director of SJC say about the inspection conclusion? SJC Company has resolved 5 recommendations of the State Bank of Vietnam Inspectorate stated in the previously issued inspection conclusion.

Source: https://vietnamnet.vn/techcombank-hue-bi-nhac-nho-ve-quy-trinh-tin-dung-va-kho-quy-2428213.html