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State Bank of Vietnam pledges assistance to banks in difficulties
A Vice Governor of the State Bank of Vietnam (SBV) has pledged supports for banks in difficulties while affirming that the bank has no plan to force banks to merge.
SBV Vice Governor Tran Minh Tuan made the affirmation at a recent meeting of a SBV group on charge of supervising the monetary market.
According to the group, commercial joint stock banks have so far this year posted good growth rates in terms of services, technological application, financial and competitive capability, and provision of safe operation.
The Government’s solutions package to control inflation, stabilise macro-economy and ensure social welfare, particularly including measures to tighten monetary market of the SBV, have yielded initial positive results.
By June, the total means of payment of the banking system has increased 4.48 percent, a remarkable drop compared with 20.5 percent recorded in the same period last year. A declining treand has also shown in credit growth rate, from 1.63 percent in January to 1.22 percent in June.
Expert also said the banking system is capable of meeting importers’ demand for foreign currencies and the VND/USD exchange rate will be stabilised towards the yearend.
For the remaining months of the year, SBV will reinforce the inspection of loans to real estate developers and stock investors, and expenses of credit organisations to ensure commercial banks and SBV branches to operate in line with their functions and duties as regulated by law.
VNA
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