The National Credit Information Center of Vietnam (CIC) held a "Certificate to summarize credit information activities in 2024 and deploy tasks in 2025" to evaluate the achieved results, recognize the positive contributions of credit institutions, foreign bank branches and exchange and remove difficulties and obstacles of units.
The conference was attended by Mr. Pham Tien Dung - Deputy Governor of the State Bank of Vietnam (SBV); Mr. Cao Van Binh - Chairman of the Board of Directors of CIC; Mr. Tran Trung Dung - Acting General Director of CIC and more than 300 delegates representing leaders of departments, branches, and units under the SBV, credit institutions (CIs) and officers directly implementing risk management and credit information (TTTD).
CIC affirms an important role in national financial infrastructure
Speaking at the opening of the Conference, Mr. Cao Van Binh said that in 2024, the CIC Board of Directors closely followed Directive No. 1 of the Governor of the State Bank on organizing the implementation of key tasks of the banking sector in 2024; the direction of Deputy Governor Pham Tien Dung at the Conference to summarize activities in 2023 and deploy tasks in 2024 and goals and tasks in the CIC Development Project to 2025, with a vision to 2030, including 5 key tasks that were effectively implemented.
Accordingly, CIC coordinated with the Banking Inspection and Supervision Agency (BIA) to complete and submit to the Governor of the SBV to issue Decision No. 573/QD-NHNN dated March 29, 2024 on the system of TTTD targets, ensuring the construction of a national TTTD database that fully meets the criteria of "correct, complete, clean, and alive"; Strengthening control of reporting activities of TTTDs, promptly proposing and coordinating with the SPP in inspection and examination work at TTTDs, contributing to improving the quality of TTTDs.
In addition, CIC focuses on upgrading and completing the IT infrastructure, ensuring to always maintain a safe, secure, continuous, smooth operating system, maintaining the supply of 24/7 products/servities even during holidays and Tet. Completing the system of products and services, meeting the need for quick information exploitation of credit institutions, especially the need for electronic lending services.
Issue appropriate pricing policies, encourage credit institutions to effectively exploit credit institution data to serve business activities, contribute to reducing lending interest rates, limiting illegal credit activities.
In the summary report on credit information activities in 2024, Mr. Le Anh Tuan, Deputy General Director of CIC affirmed that the national credit information database managed by CIC has ensured safe and stable operations, promptly meeting the data mining needs of partners inside and outside the industry, contributing to the development of the banking system, creating favorable conditions for people and businesses to access credit capital.
In 2024, the National Credit Information Database increased 2.1 million new customer records, with coverage rates always reaching over 70%; Completed the review of nearly 57 million customer records borrowed from the National Population Database (NDLQGvDC), matching rate over 80%. Providing credit information to more than 69,000 credit reports to SBV and other state management agencies; over 98 million credit reports to credit institutions; over 1 million reports to borrowers.
The average price for each exploited product of TCTD in 2024 decreased by 24%, the discount was more than 167 billion VND and the fee for TCTDs that performed well in TTTD in 2023 was reduced by nearly 7 billion VND. Database increased from 60TB (2023) to 73 TB (2024).
In addition to the achievements, CIC still faces some difficulties in implementing new regulations on credit information activities; investment activities and upgrading of IT infrastructure still have many problems; barriers in the legal framework in the information sharing mechanism limit the expansion and connection of databases outside the industry.
Improving the efficiency of TTTD databases
Speaking at the Conference, Deputy Governor Pham Tien Dung acknowledged CIC's efforts in the past year such as diversifying product portfolio, reducing service fees, providing instant TTTD and controlling information with the National Population Database, etc., ensuring the resolution of outstanding problems.
The Deputy Governor suggested that CIC should focus on seriously and effectively implementing a number of key tasks in 2025. CIC continues to support credit institutions in implementing Circular 15/2023/TT-NHNN and Decision 573/QD-NHNN; coordinate with the Ministry of Natural Resources and Environment to rectify, conduct inspections, and handle violations.
The Deputy Governor also requested the Departments, Departments and units under the SBV to study policy mechanisms related to credit information activities. On the side of credit institutions, the Deputy Governor requested serious implementation of Circular 15 and Decision 573.
Expand the collection of additional information from non-sectoral data sources such as social insurance, tax data... to enrich the National Information and Communications Database.
Research on consulting options from highly qualified foreign experts to build new data models, improve the quality of IT products and services and invest in developing backup systems, ensuring requirements for security, safety, and information security, in line with the general development trend of the world.
Recently, the Politburo issued Resolution No. 57 on breakthroughs in the development of science, technology, and innovation, which is a fundamental solution and driving force to help our country rise up. Therefore, the Deputy Governor suggested that the CIC Board of Directors actively study and implement this Resolution. We will not be able to develop strongly without synthetic labor productivity and good labor productivity if technology is applied, the Deputy Governor emphasized.
Review and evaluate the impact of the Data Law, the draft Law on Personal Data Protection, and legal documents related to credit information activities. Continue research on product prices, cost reduction, and propose reasonable product packages to support credit institutions.
The conference listened to discussions, sharing experiences, and recommendations in coordination with CIC in particular and in TTTD activities in general of delegates who are representatives of leaders from a number of Departments, Departments, and units of the State Bank of Vietnam and representatives of credit institutions.
Speaking at the closing session of the Conference, Mr. Tran Trung Dung, Acting General Director of CIC shared: We have listened to the Summary Report on IT activities in 2024 and key tasks in 2025, participating in the discussion session and exchanging opinions. Through today's summary conference, CIC received the instructions of the Deputy Governor, the contributions of the Departments, the State Bank's Departments, the credit institutions and hoped that the units had fully grasped the main information about credit institution activities, thereby all parties had the best coordination to be ready for implementation in the coming time".
Also within the framework of the Conference, CIC also announced the Decision to honor credit institutions that have performed well in credit information activities in 2024.
