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Commerzbank and GTZ assist Vietnamese bankers in risk management
The Commerzbank and the German Technical Co-operation (GTZ) have recently signed a Public Private Partnership (PPP) agreement to conduct joint training in risk management for Vietnamese banking staff.
Through this PPP, the Commerzbank and the GTZ are supporting the macroeconomic reforms in the Vietnamese financial market initiated by the State Bank of Vietnam in co-operation with the German Federal Ministry for Economic Co-operation and Development (BMZ).
Within the framework of the PPP project, Commerzbank will hold a series of seminars in Hanoi at the end of the year with key German staff presenting all aspects of modern banking risk management in accordance with the principles of Basel II.
In 2009, the Commerzbank will invite a group of Vietnamese bankers, staff from the banking supervisory office, as well as lecturers from the Banking Academy of Vietnam to Frankfurt am Main, Germany for further presentations and a review of practice.
“We are very happy at this new opportunity for intensive co-operation with GTZ, with the aim of assisting Vietnam’s banking industry, which is still very young, but is growing dynamically. Two years after the opening of our representative office in Ho Chi Minh City, this training project is a lasting testimonial to the ties between the Commerzbank and Vietnam,” said Christof Gabriel Maetze, Global Head of the Financial Institutions Department, which is responsible for the project.
Dr Ulrike Maenner, Chief Technical Advisor of the GTZ macroeconomic reforms programme in Hanoi, commented, “We are grateful that our financial sector project in Vietnam can benefit from the practical risk management experience of a major German bank like the Commerzbank.”
As an international co-operation enterprise for sustainable development with worldwide operations, the federally owned GTZ supports the German Government in achieving its development-policy objectives. The GTZ has been active in Vietnam since 1993. Its macroeconomic reform programme supports the Vietnamese transformation and reform process.
The measures to develop the financial sector provide support in reorganising commercial banks, reforming the structure of the State Bank of Vietnam (including reforming banking supervision), establishing the system of co-operative credit banks, and setting up the capital market.
With total assets of EUR 615 billion, the Commerzbank is Germany’s second largest bank. Two years ago, the Commerzbank opened a representative office in Vietnam, one of Asia’s most dynamic markets, in order to offer its clients a local service and intensify relationships with the local banks handling German-Vietnamese trade.
ND
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