The 20th World Savings Banks Institute (WSBI) conference for theAsia-Pacific was opened in Hanoi on May 21, focusing on how to translatefinance access challenges into business opportunities.
Nguyen Duc Huong, Standing Vice Chairman of the Lien Viet Post JointStock Commercial Bank, said that many banks in Vietnam have paidheed to services for rural clients, who account for two thirds of thecountry’s population.
The bank-post office model hasbeen applied in many countries and proved effective, since the postalsystem can reach remote areas which the banking network is unable tocover, he noted.
At the opening session of thetwo-day event, participants discussed the development of the retailbanking market, mobile banking services and international cooperation inretail banking.
WSBI Managing Director Chris De Noose said that legal framework needs to be bettered to promote retail banking products.
He added that WSBI will continue to support small-and medium-sizedenterprises’ access to capital so as to drive economic growth ofregional countries.-VNA