Vietnam banks co-establish private credit centre

Credit information centre, formed by 12 Vietnamese commercial banks, could come into operation by this year end. It would be the first private credit centre in Vietnam, deputy director of Credit Information Centre (CIC) under State Bank of Vietnam, Nguyen Huu Duong said.

The demand for getting credit information on enterprises in Vietnam has doubled a year because Vietnam is attracting much attention of international investors who want to have further information on Vietnamese economy generally and the businesses they plan to invest here particularly, Nicholas Teoh, vice President for Asia Pacific Partnerships of US Dun & Bradstreet Information Service Co told the press at the CIC meeting yesterday in Hanoi.

He said that last year the demand on Vietnam’s business information was higher 20 percent against Thailand.

Annually, D&B surveys big enterprises about the markets they [enterprises] will invest in, and Vietnam is ranked one of three priority markets.

In the world, the credit rating operation is diversified and there are many different indexes. CIC just operates in corporate rating (excluding rating the credit institutions), Duong revealed.

In this August, CIC and D&B will co-announce the credit rating result of Vietnam’s listed firms 2010. Both parties will select 20 typical listed companies on both stock trading floors based on some criteria such as corporate rating, banking credit relation history, EPS, and Return on Asset (ROA). Also two organisations will issue the publication “Credit rating of listed firms on the stock market 2010″ in Vietnamese and English, providing the financial information and credit rating of nearly 500 listed companies still June 30, 2010.

CIC now stores 18 million profiles of enterprises and borrowers of commercial banks in Vietnam. At this time, D&B is the foreign partner of CIC.

TBKTSG

Tags: Credit information centr, vietnam bank, Vietnam finance, Vietnam financial

Posted by VBN on Jun 9 2010. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry