Among them are Vietcombank, Vietinbank, BIDV, MB, Sacombank, Techcombank, ACB, VIB, VPBank, and Maritime Bank. According to Circular 41/2016/TT-NHNN regulating the capital adequacy ratio (CAR) for operations of banks and/or foreign bank branches, all banks must comply with Basel II standards by January 1, 2020. To date, many commercial banks have been given approval from the SBV to apply Basel II standards. In addition to the 10 selected ones, other banks have also made efforts to apply Basel II standards in order to improve their business activities. Basel II is the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision. Basel II comprises minimum capital requirements, supervisory review and market discipline, aiming to enhance competition and transparency in the banking system and make banks more resistant to market changes. Under Basel II, the CAR at banks must reach a minimum of eight percent. In late 2018, Vietcombank and VIB were the first two Vietnamese banks to graduate from the Basel II pilot program. From early May, additional banks have gained SBV approval to apply Basel II standards. According to MB, the bank has identified the risk management… Read full this story
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