Banking sector in Vietnam ensures safety, efficiency

Banking sector in Vietnam ensures safety, efficiency

The State Bank of Vietnam has reviewed its last year’s performance and mapped out plan for this year.

During a press conference in Hanoi on January 4, the State Bank of Vietnam (SBV) announced its major achievements last year, including appropriate supply of cash to stabilise interest rates, control of inflation below 5 percent and safe expansion of credit.

In her remarks, SBV deputy Governor Nguyen Thi Hong said the bank will keep a close watch on the developments of the domestic and global economies to devise proper measures to ensure stable exchange rate management in 2017.

The exchange rate and foreign exchange market in 2016 stayed stable despite pressure from unpredictable fluctuations in the global market. The bank also asked credit organisations to balance capitals, stablise deposit interest rates, reduce costs and improve operational efficiency, she added.

This year, the bank will pursue its active and flexible monetary policy to reflect world market situation.

Statistics and forecast quality will be improved to stabilise the market, ensure affluent liquidity and appropriate foreign exchange policy.

The bank sector aims for a credit growth of 18 percent and total payment instruments of 16-18 percent.