NamA Bank classified as having average operations

NamA Bank has been categorised in the Group 2, among banks with average operations, by the State Bank of Vietnam.

This was revealed by the bank's general director, Tran Anh Tuan.

NamA Bank’s director board has conducted meeting to discuss and to agree action plan for 2012 based on its grouping. Accordingly, on lending operation, the bank will focus on SMEs with credit line of from 10 billion dong and lower.

Meanwhile, Nguyen Thanh Toai, deputy general director of Asia Commercial Joint Stock Bank said that although his bank has not received official announcement on credit classification from the central bank, with the actual capacity of ACB, he believed that his bank will be categorised in the Group 1, among those bank with healthy operations,  with the highest credit growth line of 17 percent in 2012.

According to Toai, the classification will force weak banks to improve governance and business and increase the competitiveness for the banking system. Also, it is said that this measure is to help purify the banking system.