ASEAN banking forum opens in Ho Chi Minh City

The ASEAN Bankers’ Forum 2011 opened in Ho Chi Minh City on December 7 under the theme, “Retail banking: Identifying key successful factors and the role of technology in building competitive advantages”.

The two-day forum was organised for leaders in banking and finance sectors, and IT suppliers for the banking sector from Japan, India, Thailand, Singapore, Cambodia, Laos and host Vietnam to share experiences and discuss key issues.

The discussions focus on developing retail banking, opportunities and challenges, key successful and decisive factors for retail banking infrastructure and service, as well as IT solutions for creating a competitive advantage.

Vu Viet Ngoan, chairman of the National Financial Supervision Committee, said Vietnam is considered as a promising market in retail banking with a dynamic young population and IT development level.

Vietnam has 33 million payment cards, over 12,000 ATMs together with 50,000 points of sale. Over 20 banks use internet banking and eight banks have mobile banking service at different levels.

Nguyen Van Dung, deputy director of the State Bank of Vietnam Ho Chi Minh City branch, said in the next five years, Vietnam forecasts an annual average growth of banking deposits of 22-30 per cent, credit and capital supply service, 20-25 per cent, payment via banks, 30-35 per cent and card payment, 30-40 per cent.

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