HANOI: Ten domestic commercial banks have been piloting Basel II, a set of banking regulations put forth by the Basel Committee on Banking Supervision, since late last year, as part of measures required by the State Bank of Việt Nam (SBV) to restructure the local banking system. Basel II is the second of the committee’s recommendations, attempting to integrate Basel capital standards with national regulations, by setting the minimum capital requirements of financial institutions with the goal of ensuring institution liquidity.
The SBV asked the 10 banks, including Vietcombank and Techcombank, to complete the pilot process by 2018, before the application of Basel II is expanded to other banks in the country. Vietcombank Chairman Nghiêm Xuân Thành and Vikesh Mirani, Group Chief Financial Officer at Techcombank, talked to Việt Nam News reporters Vũ Hoa and Ngọc Duy about how the process was going on at these two banks.
