The banking industry needs to promote digital transformation, reduce costs to reduce interest rates, focus credit on priority areas and growth drivers.
Prime Minister Pham Minh Chinh - Photo: VGP
On the morning of February 3, the first day back to work after the 2025 Lunar New Year holiday, Prime Minister Pham Minh Chinh visited, congratulated the New Year, and assigned tasks to the State Bank and the banking sector in 2025 and the coming time.
Focus on reducing bank interest rates
According to the State Bank's report, as of December 31, economic credit increased by about 15.08%. Focusing on production, business, priority sectors; promoting the implementation of credit programs...
In 2025, the State Bank will continue to manage interest rates in line with market developments, macroeconomics, inflation and monetary policy targets. Closely monitor the market situation to manage exchange rates flexibly, appropriately and in a synchronous manner.
Implement credit management solutions in line with macroeconomic developments and inflation, meeting the demand for credit capital for the economy; resolutely and effectively implement the project to restructure the system of credit institutions; strongly apply digital transformation in the banking sector; strengthen security, safety and confidentiality of payment and banking activities, etc.
Sending New Year greetings to the banking sector, the Prime Minister said that the banking and credit system is the lifeblood of the economy. Praising and appreciating the performance of the banking sector, the Prime Minister said that 2025 has a special significance, with many important tasks.
That is to accelerate and make a breakthrough to complete the socio-economic development targets for the 2021-2025 period; promote economic growth of at least 8%, create momentum, create position, create force to strive for double-digit growth in the coming time.
Organizing party congresses at all levels, towards the 14th National Party Congress; reorganizing the apparatus; organizing the celebration of major national holidays. Therefore, the banking sector must closely follow these tasks, effectively implement resolutions, contribute to promoting growth, maintaining macroeconomic stability, controlling inflation, and ensuring major balances.
Accordingly, the banking industry needs to accelerate digital transformation, reduce costs to reduce interest rates, focus on credit in priority areas, growth drivers. Continue to handle weak banks, effectively control bad debts, and avoid incidents similar to SCB Bank.
Allocate capital to growth drivers, priority sectors
With the spirit of "turning nothing into something, turning difficult into easy, turning the impossible into possible", "valuing time, promoting intelligence and decisiveness", the Prime Minister suggested that the banking industry needs to share with people and businesses to overcome difficulties and challenges.
In policy management, we must take care of the development of production, business, and livelihoods of people and enterprises. In particular, joint stock commercial banks must further promote national sentiment, compatriotism, social responsibility, share more with people and enterprises, and contribute more to the country.
Regarding some specific tasks, the Prime Minister suggested that banks need to study preferential policies for both social housing developers and social housing buyers, contributing to helping low-income people have housing.
At the same time, it is necessary to actively support the development of strategic transport infrastructure. Banks must closely coordinate with businesses to do this work, removing infrastructure bottlenecks in the spirit of "no matter how difficult it is, we must do it".
The Prime Minister suggested that the banking industry actively pioneer in implementing digital transformation more strongly and exemplary, focusing on building the industry's database, creating motivation and inspiration for other industries in digital transformation, and directing credit towards digital transformation.
Prime Minister Pham Minh Chinh congratulated, wished and believed that the banking industry would be bolder, more determined, and achieve higher results in 2025 than in 2024, joining the whole country in entering a new era - an era of striving to develop richly, civilizedly, prosperously and people will become increasingly happy and prosperous.
Prime Minister inspects Dong Dang - Tra Linh expresswaySource: https://tuoitre.vn/thu-tuong-khong-de-xay-ra-vu-viec-tuong-tu-ngan-hang-scb-20250203150655358.htm
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