SCB launches the project "Gap assessment and building a roadmap for Basel II compliance"

On February 16, 2022, SCB officially implemented the project "Gap assessment and building a roadmap for Basel II compliance" (Basel GAP project), with the partnering of KPMG Tax and Consulting Company Limited - one of leading prestigious consultants in Vietnam.

In this Project, KPMG will evaluate the gap between the actual risk management at SCB and the requirements of both the State Bank (SBV), as well as with the requirements of Basel II standards. Based on those results, KPMG will propose a roadmap for implementing the forthcoming work items/projects concerning risk management.

In 2022, one of SCB’s top priorities is to focus on risk management towards the goal of complying with SBV’s regulations and effectively managing risks according to Basel II standards. Therefore, the Basel GAP project plays a key role in upgrading the risk management framework at SCB, serving as a premise to strengthen the strategic advantages of capital management, helping to gain more reputation in the market, greater trustworthiness to investors and shareholders.

Being aware of the importance of Database in implementing Basel II, SCB continues to invest in a modern, accurate, and regularly updated data warehouse system.

In addition to the infrastructure setup, SCB focuses on attracting talents to ensure stability, inheritance and continuity in the Basel GAP Project.

In operation, SCB consistently improves risk management capacity at all levels and units in order to achieve sustainable development.

Thanks to those prompt actions, SCB has achieved outstanding achievements like completing the organizational structure according to the model of three independent lines of defense, ensuring that the internal control and risk management systems are effectively implemented; perfecting the risk management policy framework, including the management strategies for 06 key risks according to regulations of SBV; setting risk limits as well as identifying, measuring, monitoring and controlling each type of major risk; completing the Capital Adequacy Ratio (CAR) Calculation system according to SBV’s regulations; bringing about the Internal Capital Adequacy Assessment Process (ICAAP) project which is expected to be completed in the second quarter of 2022.

At the same time, SCB carried out many other activities and programs aimed at strengthening the internal control system and risk management following advanced practices (the projects to build loan origination system - LOS, to upgrade the anti-money laundering system meeting SWIFT 7.5 standards and to institute compliance error recording system, etc.).

The Basel GAP project keeps on showing SCB’s strong determination in complying with the new regulations of SBV and applying international standards to banking business in Vietnam. This is believed to be an important foundation for the bank to run safer and more efficient business operations, bringing much more practical benefits, helping in making appropriate strategic adjustments and managing capital plans in line with the bank’s vision for sustainable development with higher quality in overarching business operations.

Some photos at the event:

Mr. Bui Anh Dung – SCB’s Chairman shared his expectations and belief in the success of the project.


Mr. Diep Bao Chau – SCB’s Deputy CEO of Risk Management Division mentioned the priority in complying with regulations of SBV and Basel II standards.


Representative of KPMG presented the project


Full scene of the event