5 CRITERIA FOR EVALUATING THE ANNUAL PERFORMANCE OF THE VIETNAM DEVELOPMENT BANK
The Government promulgates the Decree No. 46/2021/ND-CP on financial management regime and operational efficiency assessment of Vietnam Development Bank on March 31, 2021.
Specifically, the criteria for evaluating the annual performance of the Development Bank, including: 1 - Investment credit of the State; 2 - Bad debt ratio; 3 - Financial results; 4 - Situation of law obedience on investment, management and use of State capital at the Development Bank for professional activities arising in the evaluation year; 5 - Situation on compliance with the reporting regimes.
Besides, after covering the deficit from previous years, the financial results for the year reaching the surplus condition shall be distributed as follows: Deduct 5% into the reserve fund to supplement charter capital, the maximum amount of which does not exceed the charter capital of the Development Bank; Deduct 10% into the financial provision fund, the maximum amount of which does not exceed the 25% charter capital of the Development Bank; Deduct up to 25% into the development investment fund, etc.
In addition, expenses that are not accounted in operating expenses of the Development Bank include: Damages that have been supported by the State or by the insurance agency or the party causing the damage; Expenses for basis construction investment, procurement, upgrading and renovation of fixed assets belonging to capital of basis construction investment; Expenses for supporting localities, social organizations, other agencies, etc.
This Decree takes effect on June 01, 2021.
