No banks involved in Thu Thiem land auctions

January 17, 2022 | 20:25
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No banks had been offering loan packages for businesses associated with Thu Thiem land auction, as a careful examination of the State Bank of Vietnam (SBV) showed.
No banks involved in Thu Thiem land auctions

Nguyen Van Du, acting chief inspector of the Banking Inspection and Supervision Agency at the SBV, revealed that after a thorough examination, no bank had participated in granting credit for businesses involved in the Thu Thiem land auction.

Du also stated at the last week's conference that the SBV had sent formal requests to all credit institutions to review and report on lending, bidding, and depositing money related to the auction of land use rights in Thu Thiem.

Aside from that, the SBV examined the Credit Information Center about the issuance of credit to enterprises that participated in and were successful in the sale of land-use rights in Thu Thiem New Urban Area.

According to the findings of the investigation, four businesses have been identified, including Dream Republic JSX, Sheen Mega JSX, Binh Minh Investment & Trading Co., Ltd., and Viet Star Real Estate Investment Co., Ltd. (under Tan Hoang Minh Group).

Specifically, SHB and Vietcombank are among the first commercial lenders to voice their opposition to credit inflows into Thu Thiem land sale.

Last week, after winning a land plot auction in Thu Thiem at an unreasonably high price, Tan Hoang Minh Group has decided to pull back and accept all administrative fines.

Do Anh Dung, chairman of the group, explained that this decision is being taken to help safeguard the stability of the domestic real estate industry.

Moreover, as part of his remarks at the meeting, SBV Deputy Governor Dao Minh Tu stressed that the central bank will maintain strict supervision over lending in real estate, securities, and other high-risk sectors.

By Tri Lam

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