Banks need to focus on transformation to boost their internal strength and achieve sustainable growth as the banking sector enters new stages of development, the “Banking Forum 2019” held on May 8 in Hanoi heard. Ms. Nguyen Thi Hong, SBV Deputy Governor speaing at the event (Photo source from sbv.gov.vn) The forum attracted a host of banking leaders, representatives from the State Bank of Vietnam (SBV) and government agencies, banking analysts, as well as delegates from international financial institutions looking to invest in Vietnam’s banking sector. Those in attendance heard an overview of the SBV’s monetary policies in 2018 and directions for the future while taking into account external factors affecting the macro-economy. A major part of the forum was dedicated to discussing solutions to help the banking system improve its internal strength for future growth. Key topics included bank restructuring, non-performing loans, technology investments, human resources development, and green credit. The restructuring of the banking sector saw positive results in 2018, according to analysts, as evident in a gradual reduction of bad debts. Some small banks began reporting profits again, while several large banks achieved their profit targets. Faced with fluctuations in the global market in 2019, the SBV… Read full this story
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