Central bank to review credits for export

The State Bank of Vietnam (SBV) has asked commercial banks to report on credit provision for export businesses so the central bank can help those businesses tackle future difficulties quickly. 

The reports, which must be submitted by September 10, will cover the provision of credit by banks between March 31 and August 31 this year.

Commercial banks will also report “difficulties and hindrances in credit activities in exports” and suggest solutions, SBV said in a statement posted on its website on Monday.

In another statement, SBV asked commercial banks which have chartered capital less than VND1 trillion (US$60.5 million) to submit their plans to increase their level of chartered capital.

Under bank regulations, commercial banks must raise their base capital to VND1 trillion by the end of 2008 and VND3 trillion ($181.4 million) by the end of 2010.

Thanhnien

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