Pioneering Commercial Joint Stock Bank (TPBank) has just announced the completion of all requirements of Basel III and IFRS 9, and said it will comprehensively implement both of this important international standards from the fourth quarter of this year. Completing Basel III and IFRS 9 with the same time meeting both of this important international standards, TPBank will enhance the level of credit of banks in the eyes of customers and investorsBasel III is a risk management standard. Being a lot of Vietnamese banks aimed at, helping banks improve capital capacity, checking the bank's endurance in the worst situations and liquidity risk management. In the meantime, IFRS 9 is standard International financial reporting ink is important for the bank. IFRS 9 brings great benefits to financial institutions such as enhancing transparency, increasing comparison, increasing the quality of information published, thereby expanding the door to integrate into the international capital market
. By meeting the entire requirements of both Basel III and IFRS 9, TPBank became a Vietnamese bank of Tien Phong to apply at the same time two standards of risk management and financial statements stricted in the banking sector on the bank The whole world. "TPBank aims to become a leading private bank in Vietnam, not only in the business shareholder, but also at the pioneering in compliance with international standards. The application of Basel III and IFRS as well as other international standards will strengthen management capacity at the Bank, increase transparency, thereby improving the prestige and position of TPBank in the international market as well as In the country, "Mr
Nguyen Hung - General Director of TPBank shares. To improving the credit level of the Banks of TPBank, this bank has focused on applying the most advanced international standards. For a long time, to achieve efficiency and quality in risk management. Specifically, TPBank was soon interested in the implementation and application of Basel III from 2015, through self-study and internal application of some of this standard requirements on liquidity risk management, such as billion Deposit guarantee of liquidity, the proportion of net stable capital and leverage rate. "From the end of 2020, TPBank continued to implement the remaining components of Basel III and so far fully complies with Regulations of this Standard. That explains why TPBank can meet all requirements of Basel III in a short time after a comprehensive implementation of Basel II in early last year, "Mr. Hung said. For IFRS 9 Project 9 , TPBank has reviewed the entire requirement of IFRS International Financial Standards (including 41 international accounting standards - IAS and 16 international financial statements - IFRS) with accounting standards Vietnam - VAS, thereby pointing out the differences and transformations to make financial statements Completely comply with IFRS. "The biggest challenge of the deployment and application simultaneously Basel III and IFRS are the Pressure on bank's capital plan in medium and long term. However, TPBank has turned this challenge into an opportunity to proactively plan the optimization of capital sources, develop effective business plans to ensure the fast but strong development of the bank "- Taste Representatives of TPBank said
Dong Hung affirmed that TPBank fully meets the requirements of capital, liquidity and leverage of Basel III. Besides the capital plan, TPBank also anticipates the data challenge When implementing international standards. Large projects such as Data Warehouse, Metadata, Building Datamart, Large Data Exploiting BigData ... have been implemented by TPBank very early and are promoting effectively for bank projects. TPBank also applied RPA automatic process robot, artificial artificial wisdom, ML learning machine ... in building credit loss models and improving the effectiveness of data collection and processing processes, information . In the context of the world's economy as well as in Vietnam is affected by Pandemic Covid-19, TPBank has strongly invested in expenses at the same time to improve and meet the rigorous requirements of 2 international standards are Basel III and IFRS show determination in deploying and applying standards to target transparency, competitive position and especially strengthening strength and resistance Before the macro shocks of the economy. . Dịch vụ:
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