Prime Minister Nguyen Tan Dung has urged the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) to take drastic measures to make it a large-scale commercial bank which operates safely and effectively in the banking system.
Speaking at a ceremony in Hanoi on July 8 on the occasion of the bank’s 25th founding anniversary, the PM also asked Vietinbank to make efforts to meet the requirements to compete domestically and internationally, meeting regional governance, technology and competitiveness standards.
PM Dung directed the bank to soon improve its scale, financial capacity and assets, control credit quality and reduce bad debts as well as renovate its banking administrative system in accordance with international standards.
Vietinbank should also strengthen its restructuring and develop a new business strategy in line with the country’s socio-economic development condition, he added.
The PM commended the bank’s achievements and contributions to the banking system.
Also at the function, he stressed that the banking system needs to uphold its role as an effective instrument in regulating the macro-economy and ensure stable and sustainable socio-economic development.
The Government leader asked the system to combine monetary and fiscal policies to effectively implement measures to stabilise the macro-economy and curb inflation, and manage monetary policies suitable for the changing market in order to reduce prime interest rates.
It should try to obtain 12 percent credit growth in 2013, mobilise capital for prioritised sectors, stabilise the exchange rate and the value of the Vietnam dong and take drastic measures to steady the gold market, he said.
Vietinbank has a network of 160 exchange offices, branches and affiliates, over 1,000 exchange bureaus nationwide and three overseas branches.
By the end of 2012, the bank’s total value of its assets surpassed 503 trillion VND and its credit balance and investment reached nearly 470 trillion VND.-VNA
Speaking at a ceremony in Hanoi on July 8 on the occasion of the bank’s 25th founding anniversary, the PM also asked Vietinbank to make efforts to meet the requirements to compete domestically and internationally, meeting regional governance, technology and competitiveness standards.
PM Dung directed the bank to soon improve its scale, financial capacity and assets, control credit quality and reduce bad debts as well as renovate its banking administrative system in accordance with international standards.
Vietinbank should also strengthen its restructuring and develop a new business strategy in line with the country’s socio-economic development condition, he added.
The PM commended the bank’s achievements and contributions to the banking system.
Also at the function, he stressed that the banking system needs to uphold its role as an effective instrument in regulating the macro-economy and ensure stable and sustainable socio-economic development.
The Government leader asked the system to combine monetary and fiscal policies to effectively implement measures to stabilise the macro-economy and curb inflation, and manage monetary policies suitable for the changing market in order to reduce prime interest rates.
It should try to obtain 12 percent credit growth in 2013, mobilise capital for prioritised sectors, stabilise the exchange rate and the value of the Vietnam dong and take drastic measures to steady the gold market, he said.
Vietinbank has a network of 160 exchange offices, branches and affiliates, over 1,000 exchange bureaus nationwide and three overseas branches.
By the end of 2012, the bank’s total value of its assets surpassed 503 trillion VND and its credit balance and investment reached nearly 470 trillion VND.-VNA
