The Banking Inspection and Supervision Department II issued the conclusion of the inspection of Vietnam Maritime Commercial Joint Stock Bank (MSB). The inspection focused on assessing the areas of share management, credit activities and bad debt handling. According to the conclusion, many violations were identified, seriously affecting the operations and reputation of MSB.
The inspection report pointed out the following notable violations:
Shareholding management: The purchase, transfer of shares and the percentage of share ownership have not been in compliance with regulations. In addition, financial reports have errors in transparency and accuracy.
Credit activities: The credit appraisal and approval process still has many limitations. Many loan applications do not have complete documents and do not meet regulatory requirements.
Bad debt settlement: Collateral in bad debt is often degraded or has legal problems, making it difficult to recover and reuse.
In this situation, the Inspectorate has proposed solutions to overcome the outstanding problems. First, it is necessary to be more transparent in the transfer of shares, including building a coordination mechanism between related parties, conducting inspections and providing detailed information to identify illegal transactions.
In addition, credit processes must also be comprehensively improved, especially strengthening the appraisal process, ensuring complete documentation and closely evaluating loan applications to avoid errors. Finally, bad debt handling must be carried out quickly and thoroughly. This includes reviewing and handling degraded or unused collateral assets, especially those associated with production and business activities, to ensure the effectiveness and legality of bad debt handling.
The Inspectorate stressed the need to strengthen supervision, transparency and improve operating procedures to ensure financial security in the future.
