PCB Vietnam Credit Information Joint Stock Company and CRIF – one of the leading developer and manager of credit reporting systems – announced that they have obtained a license from the State Bank of Vietnam (SBV), and are officially authorized to establish the first entirely private and voluntary credit bureau in the country.

The license was granted on February 25, 2013 and the ceremony, organized by the SBV in the “licensing room” of the SBV building in Hanoi, was led by the Deputy Governor and top managers of the national bank.  A selected number of guests were invited by the SBV to attend the ceremony.

The synergy between CRIF and PCB has made it possible to establish the first world-class credit bureau in the country, which will contribute to the improvement of the retail market, supporting SMEs and individuals in accessing credit.

Enrico Lodi, General Manager of CRIF Credit Bureau Services stated: “CRIF is very proud of the achievement accomplished together with PCB, but the real good news for the country is that now the market framework  is complete: on the one hand, CIC (Credit Information Center), provides its well-recognized services in the same way as any public central registry does around the world; on the other hand, PCB provides the lending market with all the necessary services to perform, consolidate and optimize its credit management processes”.

Madam Le Thi Kim Nga, stated ”This is only the start of a long and so far successful path; now it’s time to do what we have been working towards since 2007 with PCB, and since 2009 with CRIF”.

About PCB Vietnam Credit Information Joint Stock Company.   The company was formed in 2007 with the contribution of the top 11 commercial banks in Vietnam.  Following a tender issued in cooperation with the IFC and a period of negotiation, CRIF Group officially became PCB’s strategic partner and also an important shareholder in the company.  Due to its everyday work, PCB is visible and well-established in the banking market today. The credit bureau has more than 22 established members and more are about to formalize their relationship with PCB.  www.pcb.vn

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