The State Bank of Vietnam (SBV) held a working session with SBV Regional Branch 7 and local credit institutions to take stock of early operations under SBV’s new regional branch model, gather issues raised by firms, and provide supervisory and operational direction. Regional Branch 7 was formed through the consolidation of SBV’s provincial branches in Thanh Hóa, Nam Định, Hà Nam and Ninh Bình, with its headquarters in Thanh Hóa City. Deputy Governor Phạm Quang Dũng instructed the regional branch to urgently coordinate with SBV specialist units to review, finalise, issue and implement internal processes and rules, and to complete related IT systems to ensure safe and uninterrupted operations. The branch was also directed to work with local authorities and to closely monitor credit institutions, promptly address emerging issues, and strengthen supervision, inspection and control. For credit institutions, SBV reiterated expectations to implement government and SBV directions on monetary, credit and foreign exchange measures, comply with periodic and ad hoc reporting requirements, and pursue safe and effective credit growth focused on production and business, priority sectors and local growth drivers.
State Bank of Vietnam 2025-04-04
State Bank of Vietnam reviews rollout of Regional Branch 7 and orders rapid completion of internal procedures and IT systems
The State Bank of Vietnam (SBV) reviewed the initial operations of its new Regional Branch 7, formed by consolidating provincial branches, to provide supervisory and operational guidance. Deputy Governor Phạm Quang Dũng emphasized the need for the branch to finalize internal processes, enhance IT systems, and strengthen supervision of local credit institutions. SBV reiterated expectations for credit institutions to align with government and SBV directives on monetary and credit measures.