Vietnam's first private credit information company, the PCB,officially began providing services yesterday with more than 20 bankscommitting to supply information.
On the day of itslaunch, the company also signed a strategic partnership agreement withItalian CRIF SpA Group.
The company was establishedby the Private Credit Bureau Investment Joint Stock Company (PCB). Itstotal charter capital of 50 billion VND (2.7 million USD) wascontributed by 11 Vietnamese commercial banks including ACB, ABBank,Vietinbank, BIDV, Southeast Asia Bank, Techcombank, Vietcombank, SB,VIB, Vietbank and VPBank.
Le Thi Kim Nga, presidentof PCB's management board, said the banks contributed 70 percent ofcharter capital, while the Italian group owns 20 percent. The remainderwill be contributed by other strategic partners.
Thecompany is expected to supply highly credible credit information aboutindividuals and organisations.
It will also helpsmall-and-medium-sized enterprises (SMEs) and the private sector accesscredit quickly and easily.
CRIF will provide expertsand technical systems to the PCB to help the company become Vietnam's first international-standard private credit information company.
Nga said the country had a population of more than 86million and over 480,000 SMEs.
"However, only 5percent of the population and 30 percent of the SMEs have engaged incredit transactions with banks. This is a low rate in the region, as therates in Thailand and Malaysia are 70 to 80 percent," she said.
She added that a lack of reliable information made itimpossible for credit organisations to provide credit and manage theircustomers. CRIF was established in 1988 and is currently managing creditinformation centres in Italy, the Czech Republic, Slovakia andHungary.
Under Government Decree 10/2010/ND-CP, a privatecredit centre can only be established when at least 20 banks pledge toprovide credit information to the centre.
Therefore,Vietnam, with 51 commercial banks, can only have a maximum of twocentres excluding SBV's Credit Information Centre (CIC)./.
On the day of itslaunch, the company also signed a strategic partnership agreement withItalian CRIF SpA Group.
The company was establishedby the Private Credit Bureau Investment Joint Stock Company (PCB). Itstotal charter capital of 50 billion VND (2.7 million USD) wascontributed by 11 Vietnamese commercial banks including ACB, ABBank,Vietinbank, BIDV, Southeast Asia Bank, Techcombank, Vietcombank, SB,VIB, Vietbank and VPBank.
Le Thi Kim Nga, presidentof PCB's management board, said the banks contributed 70 percent ofcharter capital, while the Italian group owns 20 percent. The remainderwill be contributed by other strategic partners.
Thecompany is expected to supply highly credible credit information aboutindividuals and organisations.
It will also helpsmall-and-medium-sized enterprises (SMEs) and the private sector accesscredit quickly and easily.
CRIF will provide expertsand technical systems to the PCB to help the company become Vietnam's first international-standard private credit information company.
Nga said the country had a population of more than 86million and over 480,000 SMEs.
"However, only 5percent of the population and 30 percent of the SMEs have engaged incredit transactions with banks. This is a low rate in the region, as therates in Thailand and Malaysia are 70 to 80 percent," she said.
She added that a lack of reliable information made itimpossible for credit organisations to provide credit and manage theircustomers. CRIF was established in 1988 and is currently managing creditinformation centres in Italy, the Czech Republic, Slovakia andHungary.
Under Government Decree 10/2010/ND-CP, a privatecredit centre can only be established when at least 20 banks pledge toprovide credit information to the centre.
Therefore,Vietnam, with 51 commercial banks, can only have a maximum of twocentres excluding SBV's Credit Information Centre (CIC)./.
