Sunday, August 20, 2017 - 22:42:18

PM: banking sector must act strongly on restructuring

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Prime Minister Nguyen Tan Dung pressed for more drastic actions to restructure the credit organisations’ system for the 2011-15 period as scheduled when he addressed a conference held by the State Bank of Vietnam (SBV) to launch its 2014 tasks in Hanoi on December 18.

He asked the banking sector to do all it can, following monetary and fiscal policies, to keep next year’s inflation at 6.5-7 percent.

It was also required to control interest rates and credit in line with macro-economic situation while making it easier for firms to access loans.

In order to forge a healthy banking system, it is advisable to improve its monetary regulations and operations up to international standards, alongside cleaning up bad debts and rearranging asset management companies, he said.

SBV Governor Nguyen Van Binh said the bank has set the goal of actively and flexibly management of monetary tools that is expected to curb inflation and maintain the macro-economic stability.

At the same time, interest and exchange rates will be settled at reasonable levels so as to ensure the value of the Vietnamese currency, he added.

Binh also vowed to extend credit packages to more together with closely checking whether they are effectively used.

About how to make banks more transparent, he underscored all necessary solutions in the settlement of bad debts and increased inspection of their activities.

Reviewing banking sector’s performance this year, Binh said the SBV in collaboration with relevant ministries and agencies have abided by Resolutions on socio-economic development set by the National Assembly and Government.

He credited inflation kept under control and better banking liquidity with its strenuous efforts and disciplines. More loans have made their ways to areas of priority while foreign currency and gold markets are in good shape.
The plan on banking restructuring has come to fruition, he noted.-VNA

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