HDbank gets under 10% credit growth in 2012

The State bank of Vietnam assigned a credit growth cap of 10% for the HDBank in 2012 as the lender violated regulation on interest cap.

The central bank also banned HDBank from opening new branches, transaction offices, ATM’s throughout the country within 01 year from November 20, 2011.

HDBank was ordered to omit its third party commission policies which violates the state banks’ monetary mediator regulation.

The central bank also requested HDBank to take measures to correct and consolidate its operation in the head office and branches. This include the dismissal of Deputy CEO Dam The Thai, of Tran Thu Huong-Head of HDBank Individual Customers Department, and of Vu Anh, Thu-Head of credit division under the individual customer marketing and product development department.

A number of other key officers at HDBanks’ branches also assigned to leave their positions.