On June 8, 2021, Deputy Governor Nguyen Kim Anh of the State Bank of Vietnam (SBV) – as Deputy Head of Vietnam Delegation at the International Bank for Economic Co-operation (IBEC) – led the Vietnamese delegation to attend the virtual IBEC's 136th Council meeting. Beside the SBV Deputy Governor, there were also leaders and officials of the SBV International Cooperation Department.
The IBEC's Council meeting is a regular activity of the Bank’s top management body with the participants being Central Banks’ and Ministries of Finance’ high level representatives from the 8 IBEC member countries.
At the Meeting, the Council made high evaluation for the remarkable results achieved by the Bank in 2020, despite the significant impacts of the COVID-19 pandemic. The IBEC had achieved and exceeded most of the set targets, in which several achievements can be highlighted, such as: total assets reached 815 million Euros (133% of the plan); equity capital reached 317 million Euros (105% of the plan); net profit was 6.8 million Euros (280% of the plan); while the indices like ROA, ROE, NPL, CAR, etc. were all within the allowable limits. The credit ratings were maintained with positive outlooks, specifically: Moody's - Baa3, Fitch - BBB, ACRA - A, ACRA Europe - BBB.
In addition to periodically reviewing and evaluating the performance of the IBEC in 2020, the Council also focused their discussions on the orientations for the reforms and the modernization process of the Bank's governance system in the coming time in order to leverage the Banks’s strengths in the current context of extensive and intensive international integration, thereby contributing to providing further support for the IBEC member countries. The Council also spent time discussing and approving the Bank's Policy on the system of staff performance evaluation and commendation in order to ensure effective assessment of work quality while attracting and motivating staff to devote and commit their time and efforts to the Bank. In addition, at this meeting, the Council also approved the appointment and dismissal of some members of the IBEC Board of Management.
Speaking at the Meeting, SBV Deputy Governor Nguyen Kim Anh acknowledged the positive results achieved by the IBEC and suggested that the IBEC continue to implement necessary reforms in order to further expand and develop the Bank's operations in a sustainable manner, in order to leverage the Bank's potentials and meet the expectations of the member countries.
Furthermore, the SBV Deputy Governor expressed high appreciation for the cooperation results between the IBEC and Vietnamese partners, especially the trade financing and factoring operations which had been implemented in 2020 and the first quarter of 2021 with the engagement of Vietnamese commercial banks, i.e. SHB (49.9 million USD), BIDV (2.9 million USD) and HDBank (5 million USD). The SBV Deputy Governor suggested that in 2021 the IBEC continue to strengthen and further promote the cooperation activities being implemented with these banks, and the IBEC should also focus on the effective and efficient implementation of the planned cooperation activities with a number of commercial banks and enterprises, in line with the cooperation arrangements signed in 2019, including HDBank, BIDV and Hateco Group.
Additionally, the SBV Deputy Governor also suggested that the IBEC conduct further promotion of its image and reputation among Vietnamese institutions and businesses; actively explore and expand the market to provide the IBEC's products in Vietnam, thereby strengthening the cooperation relationship between the IBEC and Vietnam in the coming time.
VA