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Sunday, May 26, 2013

Eximbank prioritizes risk management

9:20 AM

Thanh Thuong
Nguyen Thi Hong, vice chairwoman of the HCMC People's Committee, confers the Third Class Labor Medal to Le Hung Dung, chairman of Eximbank and Saigon Jewelry Company (SJC) on Wednesday - Photo: Thanh Thuong 
Nguyen Thi Hong, vice chairwoman of the HCMC People’s Committee, confers the Third Class Labor Medal to Le Hung Dung, chairman of Eximbank and Saigon Jewelry Company (SJC) on Wednesday – Photo: Thanh Thuong
Sticking to the motto “Prevention is better than cure”, Eximbank has strictly followed risk management rules over the past time to secure safe development of its entire system. The bank has launched a credit center into operation to improve credit quality of branches and credit policies.
Therefore, Eximbank has bettered control over credit quality, Dung told the Daily on the occasion of the Third Class Labor Medal Receiving Ceremony on Wednesday. Dung, who also serves as Chairman of the Board of Members of Saigon Jewelry Company, won the title for his contributions to the society since 2008.
The bank’s management activities have also received supports from its foreign strategic partner Sumitomo Mitsui Banking Corporation (SMBC). Its risk management system has met international standards, which are stricter than those regulated in the country.
This year, Dung said Eximbank still aims to boost credit growth rate but it will focus on risk management by controlling credit quality and drastically handling overdue debts and bad debts.
Eximbank posted up a modest credit growth of only 0.04% in 2012 and 0.03% in the first quarter of this year. Its bad debt ratio stayed low at around 1.33%, which was almost unchanged compared to late 2012.
Eximbank has been granted with the Best Managed Bank in Vietnam 2013 Award by The Asian Banker. Giving this award to Eximbank, the magazine has recognized the lender’s sustainable development in the recent three years.
Truong Van Phuoc, general director of Eximbank, has also received The Asian Banker Leadership Achievement Awards 2013 title.
Eximbank is among commercial banks that boast biggest total assets in Vietnam. The bank has obtained strong growths in three years with asset value jumping from VND65.4 trillion at the end of 2010 to nearly VND157 trillion as of the end of April.
Despite challenges in the banking network, the bank targets to gain VND3.2 trillion in pre-tax profit in 2013, a 12.2% year-on-year increase, and pay dividend for shareholders at 12%. This dividend rate is much higher than the average of the banking sector.
Eximbank’s general director Truong Van Phuoc said that the high target will encourage the bank to put more effort in business operations, focusing on retail banking and loans for export and import enterprises this year.
The Asian Banker is one of prestigious magazines in the Asia-Pacific and globally. It is founded in Singapore and has many representative offices in different countries.
Its quarterly publications have attracted many readers who are businesspeople in the region and worldwide. Every year, the magazine organizes selections of outstanding names in the banking industry in areas of finance trade, currency management and payment among others.

Get Source from : VNTimes
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