•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
These behaviors not only affect the rights of credit institutions but also negatively impact capital turnover in the economy. “It is unacceptable for a borrower who has the ability to repay not to pay, to deliberately stall, or to create disputes to delay,” a Vietnam Banks Association (VNBA) representative said.
The VNBA representative said that, in the context of the banking sector balancing the need to ensure lending to the economy, maintaining a reasonable interest-rate environment, and dealing with latent debts and cooperation challenges in debt repayment from some customers, there is a need to establish a unified code of conduct for debt collection.
According to TS. Nguyen Quoc Hung, the Code of Conduct in debt collection is designed to create a common standard framework for credit institutions to implement debt collection in a lawful, synchronized and humane manner.
TS. Nguyen Quoc Hung said the code, together with the Professional Ethics Standard and the code of conduct of bankers issued since 2019, is expected to strengthen the banking sector’s image.
He also stressed that while credit institutions are empowered to process and seize collateral under the current legal framework, the issue is not only about authority but also about implementation—so that debt collection can obtain social sharing and consensus. Issuing the Code of Conduct, he said, aims not only to standardize bankers’ conduct but also to provide a foundation for debt collection activities to be viewed as transparent and professional.
However, according to VNBA leadership, to have a basis to require customers to fulfill their obligations, banks must first do their part: comply with rules, act with standards and proper procedures. “When you do it right, when you act in accordance with standards, you have a basis to petition regulators and social consensus,” the leadership said.
TS. Nguyen Quoc Hung said that once implemented uniformly across the system, the Code of Conduct in debt collection will enhance transparency and civility in debt collection. It will also help balance the requirement to protect creditors’ legal rights with approaches appropriate for borrowers.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
