13:58 (GMT +7) - Sunday 21/01/2018

Banking & Finance

SBV appoints new Deputy Governor

Released at: 15:03, 04/01/2018

SBV appoints new Deputy Governor

Mr. Doan Thai Son (Photo from vneconomy.vn)

Mr. Doan Thai Son to take over from the retiring Mr. Nguyen Phuoc Thanh.

by Quang Huy

Mr. Doan Thai Son, General Director of the Legal Department at the State Bank of Vietnam (SBV), has been appointed Deputy Governor under a Prime Ministerial decision.

Mr. Son, 47, will replace current Deputy Governor Nguyen Phuoc Thanh, who will retire on January 10.

The SBV will be headed by Governor Le Minh Hung and five Deputy Governors: Nguyen Thi Hong, Nguyen Dong Tien, Dao Minh Tu, Nguyen Kim Anh, and Doan Thai Son.

Mr. Son will directly take charge of the following units: the Banking Inspection and Supervision Agency (with work related to banking inspections, banking restructuring, and bad debt handling, the operations of credit institutions, administrative inspections, the settlement of complaints and denunciations, and anti-corruption efforts), the Vietnam Asset Management Company (VAMC), and the SBV’s Ho Chi Minh City branch.

In managing the operations of the SBV’s Ho Chi Minh City branch, he will regularly monitor economic and banking and finance activities in the city and directly report to the SBV Governor to promptly resolve outstanding problems and difficulties arising in the city regarding monetary issues, credit, inspections, and supervision and ensure liquidity at credit institutions.

He will represent the SBV in coordinating with the Ho Chi Minh City People’s Committee to review issues relating to currency, credit, and banking operations.

Last July, on the basis of the National Assembly’s Resolution No. 42/2017 on piloting bad debt settlement at credit institutions, the SBV Governor decided to set up a Steering Committee for “Restructuring the Credit Institution System”, with Mr. Son appointed Deputy Head of the Steering Committee.

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