Banking sector needs to push credit into the economy faster

Vietcombank Quang Nam disburses capital to customers. Illustration photo: VIET QUANG

Accordingly, Prime Minister Pham Minh Chinh requested the State Bank of Vietnam to study and implement the recommendations of relevant banks to apply Basel III standards and a controlled testing mechanism (sand box) with the spirit of creating space for creativity and evaluating effectiveness.

Direct credit institutions to continue to reduce costs, increase the application of information technology, simplify administrative procedures, review and restructure the organizational apparatus, and be willing to share part of the profits to strive to reduce lending interest rates in the spirit of "harmonized benefits and shared risks".

The State Bank reviews and categorizes subjects to reduce procedures and lending conditions to push credit capital faster, more promptly, and more effectively, especially for projects and fields that create momentum for growth, digital transformation, and green growth.

At the same time, ensure the safety and rationality of banking operations. Continue to research and implement preferential credit packages to promote economic growth drivers, develop social housing and create favorable conditions for young people under 35 years old to buy social housing.

Source: https://baoquangnam.vn/nganh-ngan-hang-can-day-tin-dung-vao-nen-kinh-te-nhanh-hon-3151263.html