VN banking system development strategy by 2025 ratified

Accordingly, the strategy sets the tasks to increase the independence, activeness and responsibility of the State Bank of Viet Nam (SBV) on monitoring monetary policy, controlling inflation in line with socio-economic development orientation in each period, supporting for stabilizing the macro-economy and boosting sustainable economic development goals.

It also heads to strengthen the capacity and effectiveness of the SBV's inspection and supervision over banks as well as enhance the development of non-cash payments and maximize ATM and POS networks.

The strategy aims to increase the number of businesses and people getting access to financial and banking services provided by credit organizations and develop services serving for population groups unable to access to traditional banking service at rural, remote and disadvantaged areas.

By 2025, at least two to three commercial banks will be ranked among top 100 Asian banks (in term of assets) and three to five ones will be listed on foreign stock markets.

The bad debt of the credit organizations will belessened by3% by 2025.

(Source: VGP)