Prime Minister Pham Minh Chinh expressed his hope that the baking sector will be more proactive, creative and responsive to policies in 2023 at a meeting on January 27 or the sixth day of the Lunar New Year.
Minister of Finance Ho Duc Phoc has said the finance-banking sector accomplished its set goals for 2022, with State budget collection surpassing the estimate by nearly 20% amid unfavourable changes in the country and the world.
Prime Minister Pham Minh Chinh on December 28 tasked the banking sector with ensuring monetary security and safety, as well as legitimate rights and interests of people, businesses and relevant subjects in 2023 and the following years.
The State Bank of Vietnam (SBV) has released the banking sector’s plan to implement the national strategy on developing a digital economy and digital society by 2025, with a vision to 2030.
Last week, the State Bank of Vietnam decided to put Saigon Joint Stock Commercial Bank (SCB) under special control and revamped the bank’s management to help the bank stabilize its operation, but analysts said the recent problem at SCB does not have any potential consequences on the banking system.
Prime Minister Pham Minh Chinh said the banking system plays the role as arteries of the economy while addressing a meeting with chairpersons and CEOs of commercial banks in Hanoi on October 16.
The banking sector was expecting amendments to the Law on Electronic Transactions would help remove bottlenecks and speed up the sector’s digital transformation progress.
The local banking sector, currently undergoing drastic restructuring, will have more opportunities to improve its financial capacity as well as learn modern business models and management from UK partners after the UK-Vietnam Free Trade Agreement (UKEVFTA) takes effect, according to banking insiders.
Prime Minister Pham Minh Chinh on August 4 commended efforts by the banking sector in digital transformation with diverse products and services for people and businesses.
Lists of top public companies and those in the banking, insurance, and technology sectors in 2022 was released by the Vietnam Report JSC and VietNamNet newspaper on August 3.
The digital transformation day of the banking sector will be held on August 3, the State Bank of Vietnam (SBV) announced at a press conference in Hanoi on July 28.
The State Bank of Vietnam (SBV) has issued a decision on digital transformation plan in 2022, under which all of the administrative procedures are to be handled online.
The National Assembly (NA) spent the 13th working day of its third session on asking officials about issues relevant to agriculture and rural development, finance, and banking.
Total credit supply in 2022 reached over 11 quadrillion VND (474.3 billion USD) as of May 20, up 7.66 percent compared to that at the end of 2021 and doubling the figure recorded in the same time last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
The banking sector hopes that by 2025, the volume of mobile payment transactions will grow by 50 - 80 percent while transaction value will surge 80 - 100 percent annually.
The banking sector needs to have countermeasures to flexibly adapt to the COVID-19 pandemic. This will help to reduce costs, promote innovation, digital transformation and cashless payment, towards assisting the retail banking sector to providing breakthrough services in the new normal.
Credit growth momentum is forecast to be more positive this year than in 2021 due to the State Bank of Vietnam (SBV)’s flexible management policy. The focus is to control inflation, while keeping the macro-economy stable to underpin and support economic growth.
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