The 20th World Savings Banks Institute (WSBI) conference for the Asia-Pacific was opened in Hanoi on May 21, focusing on how to translate finance access challenges into business opportunities.

Nguyen Duc Huong, Standing Vice Chairman of the Lien Viet Post Joint Stock Commercial Bank, said that many banks in Vietnam have paid heed to services for rural clients, who account for two thirds of the country’s population.

The bank-post office model has been applied in many countries and proved effective, since the postal system can reach remote areas which the banking network is unable to cover, he noted.

At the opening session of the two-day event, participants discussed the development of the retail banking market, mobile banking services and international cooperation in retail 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-sized enterprises’ access to capital so as to drive economic growth of regional countries.-VNA