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BANKS IN HOCHIMINH CITY
Vietnamese banking system include :
1-State Bank of Vietnam (SBV) : is a Government body and
is also the central bank of
Vietnam.
State Bank of Vietnam has the following principal
functions
-State management of monetary and banking
operations
-Issuer of bank notes and coins
-Banker for credit institutions and provider
of monetary services to the Government
SBV is responsible for establishing the value of money,
ensuring the maintenance of the safety of banking
activities and credit organizations and facilitating the
development of a socialist-oriented economy.
2-State - owned banks:
The principal state owned credit institutions are the
state owned banks. There are 5 major the state owned
banks, namely The bank for Foreign trade of Vietnam (Vietcombank),
The Industrial and Commercial bank of Vietnam (Vietindebank),
the Investment and Development bank of Vietnam (BIDV)
and the Vietnam Bank for Agriculture and Rural
Development (Agribank).
3-Joint-stock commercial banks: these banks are equity
companies established under Vietnamese law
4-Foreign bank branches : these are foreign banks
established under foreign law that have set up branches
licensed to operate in Vietnam. A foreign credit
institution is also permitted to open a representative
office in Vietnam, but a representative office cannot
carry on business operations in Vietnam.
5-Joint venture bank: these bank are established in
Vietnam as Vietnamese legal entities with capital
contributions from both foreign and domestic legal
entities
6-Co-operative credit institutions: these credit
institutions are classified as non banking credit
institutions and can carry out foreign exchange
activities and provide banking services in accordance
with the Law of credit institutions and the Law on Co
operatives for the main purpose of assisting members in
developing their business production activities and
improving their living standards. They are formed by
organization, individuals or households to provide
banking services to members. Co operatives credit
institution comprise co-operative banks, peoples credit
funds, credit co-operatives and other institutions.
Co-operative credit institutions may raise capital from
members and other organizations and individuals and use
that capital to provide loans to members. Any loan made
to a non-member must be approved by the members and the
loan amount must not exceed the limit prescribed by
State Bank of Vietnam
7-Finance companies: these credit institutions are
classified as non banking credit institutions and are
entitled to carry out banking operation other than the
taking of deposits or the provision of payment
services. Foreigners are entitled to hold up to 30% of
the capital of finance companies
8-Finance leasing companies: the Law of credit
institution provides for the establishment of finance
leasing companies subject to the supervision of State
Bank of Vietnam. Finance leasing is carried out by
Finance leasing companies. Several joint venture
enterprises and 100% foreign owned Finance leasing
companies have been established in Vietnam.
Presently, in Vietnam , there are 5 of State - owned
banks, 37 of Joint-stock commercial banks, 26 Foreign
bank branches, 4 Joint venture banks, 5 of Finance
companies, 8 of Finance leasing companies, nearly 1000
of Co-operative credit institutions and 41
representatives offices of foreign credit institutions.
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