ANTD.VN - On the morning of February 11, at the Government Headquarters, Prime Minister Pham Minh Chinh chaired the Government Standing Committee Conference to work with commercial banks to accelerate, break through, promote growth and control inflation.
Moving towards eliminating the credit allocation mechanism
Reporting at the Conference, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said that in 2024, the SBV will continue to proactively manage interest rates at low levels to guide the market to reduce lending rates, support businesses and people, thereby reducing lending rates by 1.24% compared to the end of 2023. The foreign exchange market and exchange rates are stable. Liquidity of the credit institution system is abundant, meeting the capital needs of the economy, contributing to controlling inflation and stabilizing exchange rates.
The State Bank promptly directed the credit institution system to deploy many solutions to effectively promote credit growth, increasing by 15.08% compared to the end of 2023 and achieving the set target, adding VND 2.2 million billion to the economy (loan turnover of VND 23 million billion).
Actively remove and handle difficulties and obstacles in accessing and absorbing credit capital of enterprises and people. Some very effective credit programs have been expanded and increased in scale many times. Solutions to remove difficulties for customers, especially after storm No. 3, have been strongly implemented.
The implementation of the Project on restructuring the system of credit institutions associated with bad debt settlement continues to be vigorously implemented, actively handling weak credit institutions. In particular, the State Bank has completed the compulsory transfer of 4 weak banks. Bad debt is focused on handling and controlling lower than the target of 3% set out...
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Prime Minister chairs working conference with commercial banks |
In 2025, the State Bank said it will continue to operate monetary policy proactively, flexibly, promptly, effectively, and in close, synchronous, harmonious, and coordinated coordination with fiscal policy and other macroeconomic policies to contribute to supporting economic growth, stabilizing the macro economy, and controlling inflation.
Along with that, continue to innovate credit growth management measures and implement a roadmap to gradually reduce and eventually eliminate the management of credit growth targets for each credit institution, striving to achieve the expected system-wide credit growth of 16%.
Proactively and promptly adjust and increase credit growth targets for credit institutions based on macroeconomic developments and actual situations without needing written requests from credit institutions to promote economic growth.
Eight tasks that the banking industry needs to focus on
In his closing remarks at the Conference, Prime Minister Pham Minh Chinh expressed his wish that the banking industry would develop more healthily, actively, and effectively, and that people would receive more attention, care, and support.
The Prime Minister requested that the banking sector in general and commercial banks in particular take the lead in promoting growth, controlling inflation and stabilizing the macro-economy. In particular, the Prime Minister pointed out 8 tasks and solutions that the banking sector and commercial banks need to focus on implementing.
Firstly, reduce costs, reorganize operations more effectively and especially sacrifice part of profits to reduce lending interest rates, support the economy, people, businesses, and create livelihoods for people.
Second, focus on credit, contribute to renewing the three growth drivers: investment, consumption, export and promote new growth drivers.
Third, the State Bank and commercial banks must pioneer in digital transformation, application of science and technology, innovation; build databases, implement Project 06; implement Resolution 57 of the Politburo on breakthroughs in science and technology development, innovation, digital transformation; have measures to pilot the implementation and management of virtual banks.
Fourth, promote the reduction of administrative procedures, inconvenience, harassment, negative manifestations, fight corruption and waste in banking activities, reduce bad debt, and create favorable conditions for people and businesses.
Fifth, implement smart governance, build smart banks, improve the capacity and fighting spirit of bankers for the common goal of building the country, contributing to sharing difficulties with people and businesses, while enhancing cooperation, sharing and learning international experiences.
Sixth, banks should participate more actively and effectively in implementing three strategic breakthroughs in institutions, infrastructure, and human resources, contributing to the development of laws, focusing on mobilizing resources to develop strategic infrastructure, and training human resources for the country in the new era of development.
Seventh, the State Bank and commercial banks will study and continue to have preferential credit packages for both supply and demand to develop social housing, housing for young people aged 35 and under, housing for the disadvantaged; actively contribute to eliminating temporary and dilapidated houses nationwide.
Eighth, closely and effectively coordinate with state management agencies and agencies in the political system in the spirit of common development, healthy development of the banking system, solidarity, unity, and good performance of the political tasks of the agencies and the tasks of the banking system.
According to the Prime Minister, banks must operate profitably but must also bring common benefits to the country, because "when the water rises, the duckweed floats".
In particular, the Prime Minister noted the need to remove difficulties and obstacles for backlogged and prolonged projects that cause waste for private enterprises and support small and medium-sized enterprises because these enterprises account for a very large proportion and create many jobs.
Hoping that banks operate in accordance with the law, contributing to preventing and combating corruption, negativity, and harassment, the Prime Minister clearly stated that the recent violations related to bonds are partly the responsibility of banks.
This requires reviewing and correcting business ethics, eliminating bad elements from the banking system, and not pushing customers into difficult situations or taking advantage of them. The banking inspection agency also needs to operate more effectively.
The Prime Minister assigned Deputy Prime Minister Ho Duc Phoc to directly direct and Governor of the State Bank of Vietnam Nguyen Thi Hong to urgently prepare documents and submit them to the National Assembly in the upcoming May session to legalize Resolution No. 42/2017/QH14 of the National Assembly on piloting the handling of bad debts of credit institutions. At the same time, amend regulations related to increasing capital for state-owned commercial banks to ensure healthy competition with joint-stock commercial banks...
Source: https://www.anninhthudo.vn/thu-tuong-cac-ngan-hang-lam-an-co-lai-nhung-phai-mang-lai-loi-i-chung-cho-dat-nuoc-post603190.antd
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