Promoting administrative reform in the banking sector

Tuesday, 2019-06-18 14:21:48
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At the event
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NDO – An online conference took place in Hanoi on June 17 on promoting administrative reform in the banking sector, improving the business environment, and improving the credit access index, as well as continuing to implement the Government's Resolution 02/NQ-CP in 2019.

State Bank of Vietnam (SBV)’s Deputy Governor Dao Minh Tu, who chaired the conference, affirmed that over the recent times, administrative reform has always been a focus of the State Bank and is considered as one of the important tasks, the key factor to improve the efficiency and quality in implementing the SBV’s management function and the banking industry's tasks.

With the regular guidance of the SBV’s leaders and the efforts of the system of credit institutions, the administrative reforms to improve the business environment in the monetary – banking sector have achieved positive results, making important contributions to improving the national business environment.

The important goal of administrative reform in the banking sector is to support businesses and people to access financial – banking information and services, contributing to improving the business environment in the monetary – banking sector and the national business environment, Deputy Governor Dao Minh Tu emphasised.

In 2018, credit institutions actively reduced lending interest rates to support businesses and offered nearly 100 credit programmes and products providing soft loans, including 15 for small- and medium-sized enterprises and startups. They also decreased a number of fees and upgraded their technological systems to meet firms’ e-commerce demand.

Concluding the meeting, SBV’s Deputy Governor Dao Minh Tu once again stressed the task and requirements on administrative reforms for units under the SBV as well as the system of credit institutions in the coming time. Accordingly, in the time ahead, the SBV will increase IT application in its activities, upgrade the national payment infrastructure to facilitate the development of new payment services, and apply new e-payment technologies like QR code, Tokenization, mobile payment and contactless payment.

Meanwhile, credit institutions are expected to keep improving their financial capacity and continue measures to manage credit quality, reduce non-performing loans and better asset quality.