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Description
Concept of Retail Credit
Currently, the official documents of our country have not given the official concept of retail credit, but only raised the concept of credit in general. In which, according to Clause 2, Article 50 of the Law on Credit Institutions No. 47/2010/QH12 dated June 16, 2010, it is stated: “Credit institutions lend short-term, medium-term and long-term loans to organizations and individuals to meet capital needs. for production, business, service, life". As such, specific types of credit are not defined, explained and specifically implemented in the text.
Also quoted from the Law on Credit Institutions approved by the National Assembly of the Socialist Republic of Vietnam on June 16, 2010: “Credit is an agreement for an organization or individual to use a sum of money or pledge. The agreement allows the use of a provision on the principle of repayment by lending, discounting, finance leasing, factoring, bank guarantee and other credit extension operations.”
Specifically, at the Joint Stock Commercial Bank for Investment and Development (BIDV) according to the decision No. 3296/QD-BIDV dated December 15, 2016 it is clearly stated: “Retail customers include individual customers (including individuals with nationalities) Vietnamese nationality and individuals with foreign nationality), households, business households, and micro enterprises (according to BIDV's regulations from time to time) that have a need to use products and services of BIDV.”
Thus, it can be understood that retail credit is a form of credit extension (through lending operations, guarantee discount, L/C opening, ...) in which commercial banks play the role of the person who assigns the right to use capital, lends directly to the ultimate borrower who is an individual, business household, or small and medium-sized enterprise within a certain period of time, must repay both principal and interest as committed at the end of the term. investment between the two parties for the purpose of serving investment, production or life consumption activities through a diverse network of branches supported by modern information technology systems.
teamluanvan.com/co-so-ly-luan-…

Description
Concept of Retail Credit
Currently, the official documents of our country have not given the official concept of retail credit, but only raised the concept of credit in general. In which, according to Clause 2, Article 50 of the Law on Credit Institutions No. 47/2010/QH12 dated June 16, 2010, it is stated: “Credit institutions lend short-term, medium-term and long-term loans to organizations and individuals to meet capital needs. for production, business, service, life". As such, specific types of credit are not defined, explained and specifically implemented in the text.
Also quoted from the Law on Credit Institutions approved by the National Assembly of the Socialist Republic of Vietnam on June 16, 2010: “Credit is an agreement for an organization or individual to use a sum of money or pledge. The agreement allows the use of a provision on the principle of repayment by lending, discounting, finance leasing, factoring, bank guarantee and other credit extension operations.”
Specifically, at the Joint Stock Commercial Bank for Investment and Development (BIDV) according to the decision No. 3296/QD-BIDV dated December 15, 2016 it is clearly stated: “Retail customers include individual customers (including individuals with nationalities) Vietnamese nationality and individuals with foreign nationality), households, business households, and micro enterprises (according to BIDV's regulations from time to time) that have a need to use products and services of BIDV.”
Thus, it can be understood that retail credit is a form of credit extension (through lending operations, guarantee discount, L/C opening, ...) in which commercial banks play the role of the person who assigns the right to use capital, lends directly to the ultimate borrower who is an individual, business household, or small and medium-sized enterprise within a certain period of time, must repay both principal and interest as committed at the end of the term. investment between the two parties for the purpose of serving investment, production or life consumption activities through a diverse network of branches supported by modern information technology systems.
teamluanvan.com/co-so-ly-luan-…