News

On April 12, 2019, in Hanoi, the Vietnam Financial Leasing Association (the Association) held its fourth term congress (2019 – 2022). Attending the meeting were Mr. Nguyen Toan Thang – General Secretary of Vietnam Banking Association; Ms. Nguyen Thi Kim Thanh – Deputy Secretary General of Vietnam Credit Fund Association; representatives of the Gold Business Association; Securities Business Association; Former Chairman and General Secretary of previous terms and Representative of 8 Financial Leasing Companies (CTTC) are official members of the Association.

Summary report of the Association’s activities in the third term (2014 – 2018), Mr. Cao Van Uy – General Secretary of the Association – on behalf of the Executive Committee, has identified: in the last term III, the Association has been active. operate and make a positive contribution to the financial leasing market in them as well as to each member in particular; Financial leasing market has made positive developments, specifically as of December 31, 2018: total assets reached over VND 11 trillion, own capital reached over VND 3,600 billion; quality of operations has been increasingly improved (low NPLs – less than 2% minus 01 member with ~ 4% NPLs; Group 2 NPLs – less than 1.5%).

As the focal point, representing the member companies in connecting with the state management agencies, the Association has actively contributed opinions to build many relevant legal documents. in the field of finance – banking …, especially the Association has directly reported and proposed to the competent State agencies such as SBV, Ministry of Public Security, Ministry of Justice, General Department of Taxation, General Department Customs…. consider and deal with problems regarding mechanisms and policies on financial leasing activities; At the same time, the Association has also actively participated in conferences and seminars of ministries and branches such as seminars on the topic of safe, sustainable development of the system of non-bank credit institutions in Vietnam of the Strategic Institute. The bank is under the SBV.

The Association has also cooperated with members to make a number of reports, documentaries, articles on financial leasing to promote, introduce and develop the financial leasing market such as TV reportage. People on financial leasing broadcast on October 8, 2017, National Assembly Television on September 9, 2017 …

For Association members, in the past term III, the members in general have been active, proactive and strongly implemented the restructuring program in accordance with the direction of the State Bank and the results. The overall business activity has been stabilized with increasing quality. Among the Association members, BIDV – SuMi TRUST Financial Leasing Company Limited is considered as a typical member in the restructuring process by changing the operating model into a joint venture and has been active. In communication, promoting financial leasing services is closer to the business community. It can be said that in recent times, CTTC products have approached the needs of businesses, which are known and responded more by businesses.

Along with the positive results, the Association’s report also assessed that there are some points that the Association needs to enhance and promote its role, namely: communication, introduction and promotion of the product. financial leasing; the work of connecting members and continuing to be the focal point to solve difficulties for financial leasing activities … For financial leasing companies, they have not diversified the products and capabilities of the companies for financial leasing is not high yet ….

The report at the Congress also pointed out the direction in the fourth term (2019 – 2022) to well perform the role and functions of the Association to continue promoting the development of the financial leasing market for sustainable and safe development. safely and effectively through connecting members, bridging with state management agencies, actively deploying information and propaganda about financial leasing products …

The Congress also elected the IV term Executive Committee including 4 members from BIDV – SuMi TRUST Financial Leasing Company Limited, VietcomBank Finance Leasing Company Limited, VietinBank Finance Leasing Company Limited. and SacomBank Finance Leasing Company Limited.

Mr. Nguyen Thieu Son – General Director of BIDV – SuMi TRUST Finance Leasing Co., Ltd, made a speech at the meeting, stating that the current situation of Vietnam’s financial development market has not been developing to its inherent potential, products for financial leasing is still not diversified, the competitiveness is not high, many businesses that need to invest in assets only know about bank loans, … Besides, the important issue is the communication about financial leasing products. is not good so the market does not know much about the role and benefits of financial leasing products. At the same time, there is not a general awareness about financial leasing, leading to different understandings and applications to financial leasing products such as accounting, taxes, … leading to difficulties in approach and explain to customers.

Mr. Nguyen Thieu Son wishes that in this term IV, the Association will promote its role as a connection between members of CTTC companies to jointly develop the financial leasing market. As a member of the Association and market member, BIDV – SuMi TRUST Financial Leasing Company will endeavor to make a positive contribution to the Association as well as to the market in general.