After working with large corporations and private enterprises, on the afternoon of September 21, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee to work with joint stock commercial banks on solutions to contribute to the country's socio-economic development.
Also attending were Deputy Prime Ministers: Tran Hong Ha, Le Thanh Long, Ho Duc Phoc; Ministers, Heads of ministerial-level agencies; leaders of central ministries and branches; leaders of 13 major joint stock commercial banks nationwide.
Speaking at the opening of the conference, Prime Minister Pham Minh Chinh said that the conference aimed to assess monetary policy, especially prioritizing growth, controlling inflation, ensuring major balances, and stabilizing the macro economy. He asked delegates to contribute their opinions to accurately and fairly assess the monetary policy and macro management of the Government and the State Bank of Vietnam, including issues related to liquidity, interest rates, exchange rates, credit room, credit growth and lending interest rates in the current context and propose tasks and solutions for monetary policy in the coming time.
The Prime Minister said that up to now, we have maintained macroeconomic stability, controlled inflation, and ensured major balances. However, recently, storm No. 3 has caused severe damage due to its high intensity, fast speed, strong gusts of wind, and prolonged raging on land. The storm's circulation caused widespread flooding, causing heavy damage to people and property. Moreover, storms and floods also caused production and business disruptions, greatly affecting the macro economy.
Therefore, the Prime Minister hopes that banks will propose new policies to adapt to the situation, including policies for businesses and people affected by storms and floods; at the same time, they will propose solutions related to credit growth and reasonable interest rates in the spirit of harmonious benefits, shared risks, and harmonizing the interests of the State, people, and businesses in the spirit of "mutual love and affection," "national love and compatriotism" to have appropriate policies, listen and understand together; share vision, awareness and action together; work together, enjoy together, win together and develop businesses and the country, leaving no one behind.
The Head of Government asked banks to share in the country's difficulties, especially in the issue of interest rates, support people and businesses to overcome difficulties, contribute to the commercial banking system; demonstrate the spirit of national solidarity, overcome difficulties, and bring the country to rapid and sustainable development.
The Prime Minister said that the recent 10th Central Conference of the 13th tenure was very innovative, demonstrating the determination to promote 3 strategic breakthroughs; innovation, science and technology are the premise for development, taking stability for development, taking development to ensure stability; promoting key national projects such as the North-South high-speed railway; completing the expressway system, researching and developing energy infrastructure, especially nuclear energy infrastructure, developing climate change-resistant infrastructure; taking people as the center, subject, goal, driving force, and resource for development; focusing on decentralization and delegation of power to ministries, branches, and localities, in which the Central Government, ministries, and branches make policies, plans, and supervise and inspect, while localities must decide, do, and take responsibility.
Emphasizing the need to eliminate cumbersome administrative procedures that affect people and businesses; encouraging innovation, daring to think, daring to do, daring to take responsibility, the Prime Minister expressed his willingness to listen to the opinions and contributions of banks with an open-minded spirit to find solutions to contribute to the country's development.
According to the State Bank of Vietnam, in more than 8 months of 2024, closely following the policies of the National Assembly, the Government and the direction of the Prime Minister, the State Bank has proactively followed domestic and foreign economic developments to synchronously deploy solutions to create favorable conditions for businesses and people to access bank credit capital, remove difficulties and restore production and business, contributing to promoting economic growth associated with macroeconomic stability, controlling inflation, and ensuring the safety of the credit institution system.
The State Bank shall proactively and flexibly operate monetary policy, harmoniously balance interest rates and exchange rates, direct credit institutions to reduce lending interest rates, support liquidity of the credit institution system; promote the implementation of solutions to boost credit growth, increase access to credit, and industry and sector credit programs; complete the legal framework in credit granting activities, contributing to improving access to bank credit, supporting customers facing difficulties in credit activities; promote the implementation of solutions to digitally transform banking activities, promote non-cash payments to develop products and services applying technology, ensuring continuous, smooth and safe operations.
By September 17, 2024, the credit growth of the whole system reached 7.38% compared to the end of 2023, of which the private joint stock commercial bank sector increased by 8.6%, accounting for 45% of the market share, the highest increase in the whole system; credit structure is in line with the economic restructuring orientation, continuing to focus on production and business activities and priority areas.
Total assets of 28 joint stock commercial banks as of June 30, 2024 reached VND9.3 million billion, accounting for 45% of the market share, of which 22 banks had assets of over VND100 trillion. Total mobilized capital of the joint stock commercial banking sector reached VND8.7 million billion, up 5.44% and accounting for 46.1% of the market share.
The business results of joint stock commercial banks are quite good. The after-tax profit of private joint stock commercial banks in the first 6 months of 2024 reached about 44,000 billion VND...
At the conference, delegates frankly assessed that bad debts and potential debts to become bad debts of the banking system tend to increase, the risk increases after continuing the policy of restructuring debt repayment terms and maintaining the debt group; the credit absorption capacity of enterprises and people is low; the pressure on bank credit continues to increase; the real estate market has not recovered and stabilized, affecting many satellite industries as well as consumer demand for housing; the world economy is growing slowly, with complicated developments, and interest rates are still at high levels, affecting domestic interest rates and exchange rates.
In particular, natural disasters and floods cause great damage, affecting the lives, production and business activities of customers, leading to difficulties in the operations of commercial banks./.
Source: https://baodaknong.vn/thu-tuong-danh-gia-chinh-xac-cong-bang-ve-chinh-sach-tien-te-dieu-hanh-vi-mo-229836.html
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