The State Bank of Vietnam (SBV) joined Joint – Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and Shinhan Bank in organizing workshop on Basel II Capital Management and Risk Data-System Management in Hanoi on October 6.
Attending the workshop were Mr. Pham Huyen Anh, Vice Chief Supervisor of Banking Supervision Agency of the SBV; Mr. Choi Jea Youl, Executive Vice President of Shinhan Bank (South Korea); members of Steering Board and Assistance Group of implementing Basel II in the banking sector; representatives from SBV entities and commercial banks.
Speaking at the workshop, Vice Chief Supervisor Pham Huyen Anh said that the banking sector in Vietnam has obtained encouraging results in implementing Basel II over the past time, and thanks to the effort of the SBV entities, credit institutions, foreign banks in Vietnam and support from international sponsors, the SBV has conducted key tasks to create the basis for the implementation of Basel II as schedule in the coming time, such as completing the gap assessment of Basel II implementation of 10 selected banks; formulating overall Plan of Basel II implementation for the SBV and commercial banks; assessing the gap of database and information technology infrastructure and recommending solutions to narrow this gap; establishing coordinating, supporting and supervising mechanism between the SBV and commercial banks for Basel II implementation process; developing draft guiding circular on the capital adequacy ratio under the standard method of Basel II to provide adequate legal basis for commercial banks to comply with the roadmap approved by the SBV Governor.
Mr. Pham Huyen Anh emphasized that in the coming time, the SBV will continue to implement these key tasks and priority measures to support commercial banks for implementing Basel II, of which experience sharing activities with foreign banks will be focused on in each period of the process of implementing Basel II. Therefore, he stated that this workshop was an opportunity for Vietnam banks to learn experience from experts and experienced officials of Shinhan Bank (Korean), Shinhan Bank Vietnam in order to formulate a detailed roadmap of Basel II implementation, performance of Internal Capital Adequacy Assessment Process (ICAAP), and Basel II capital management and risk data-system management.
At the workshop, Mr. Kim Young Bae, expert from Shinhan Bank, made a presentation on ICAAP, including overall instruction about Basel II standards, risk management system…Moreover, specialist Lee Eun Ha from Shinhan Bank shared experience in implementing Basel II in South Korea in general and in Shinhan Bank in particular.
Participants actively discussed with experts from FSS of South Korea and Shinhan Bank about experience in implementing Basel II and highly appreciated the workshop.
TLH