Banks in Vietnam urged to improve risk management

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(VOVworld)- According to a survey, almost every bank operating in Vietnam lacks official policies and systems to manage environmental and social risks for their customers.

(VOVworld)- According to a survey, almost every bank operating in Vietnam lacks official policies and systems to manage environmental and social risks for their customers. The survey was conducted in June at 54 credit organisations operating in Vietnam by the International Financial Corporation (IFC) in Vietnam and the State Bank of Vietnam (SBV). Simon Andrews, IMF Regional Manager in Vietnam, Cambodia, Laos and Thailand, says managing sustainable development of environment and social issues will bring new business opportunities to banks, such as support for energy saving and recycled energy. Cat Quang Duong of the SBV said that the central bank is willing to cooperate with the IFC to promote the sector’s environmental and social risk management. Cooperating with the SBV to improve environmental and social risk management in the banking sector is one activity in the IFC’s advisory service program to promote sustainable growth in Vietnam.

Banks in Vietnam urged to improve risk management  - ảnh 1

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