Day 6/9, which represents the State Bank branch in Phu Yen said, made the written direction of the Governor of the State Bank of Vietnam on the correct inspection and supervision of banks, branchesState Bank in Phu Yen is taking corrective inspection, monitoring credit activity in the area.

Accordingly, the issuance of the inspection results to ensure that the contents: the time and place of inspection; contents, extent and causes of violations and specific responsibilities; recommendations, supervise, urging and closely monitor the implementation of recommendations after inspection. This activity is to improve the efficiency and quality of the inspection and supervision of banks in the future, to ensure the development of safe, healthy system of credit institutions in the area.

As known, the bad debts of credit institutions in the province of Phu Yen 500 billion, accounting for over 4% of total loans. Most bad debt is due to a number of businesses use short-term loans to invest in the medium and long term projects, causing financial imbalances.