Prime Minister visits, extends New Year greetings and assigns tasks to banking sector

Attending the meeting, there was Governor Nguyen Thi Hong and the SBV's Board of Management, representatives of the Central Bank’s Party Committee, the SBV entities, leaders of the commercial banks in Hanoi, etc.

Continuing to maintain the macroeconomic stability, control the inflation, stabilizing the monetary market

At the meeting, extending his best wishes for a Happy New Year to all officials and employees of the banking sector, Prime Minister Pham Minh Chinh highlighted the role of the SBV and the banking system as the lifeblood of the economy in the socio-economic recovery and development over the past time. On behalf of the Government, Prime Minister Pham Minh Chinh highly praised the positive results of the banking sector in 2024.

The Prime Minister emphasized that, the banking sector had closely followed the leadership and direction of the Party and the Government; closely followed the situation, controlled bad debts effectively, contributing to ensuring the safety of the banking system.

Prime Minister Pham Minh Chinh extends New Year greetings and assigns tasks to the banking sector

The Prime Minister requested the SBV to continue to manage the monetary policy in a proactive, flexible and effective manner, in close collaboration with the fiscal policy in order to support the economic growth; to create a good financial and banking ecosystem.

The Prime Minister also requested the banks, especially the joint stock commercial banks, to further promote their social responsibilities and share more with the people and businesses, contributing more to the country.

In addition, the Prime Minister also requested the banks to consider more preferential policies for social housing developers and buyers, contributing to helping low-income people. In order to support the development of strategic transport infrastructure, it is necessary for the banks to closely coordinate with the businesses to remove any obstacles and difficulties.

The Prime Minister further requested the banking sector to continue to play a pioneering and leading role in the digital transformation, focusing on developing databases for the sector, creating a motivation and inspiring other sectors in the digital transformation.

Especially, over the past time, the SBV has been implementing effectively several policy communication activities, with many successful programs, including: “Smart money”, “Holding the purse-strings”, contributing to helping businesses and people in accessing capital sources to develop production and business, and in using modern banking services. The Prime Minister emphasized that it is necessary to promote the policy communication in the coming time.

The banking sector is determined to accomplish the assigned tasks

On behalf of all officials and employees of the banking sector, Governor Nguyen Thi Hong expressed the honor to welcome Prime Minister Pham Minh Chinh to visit, extend New Year greetings, and assign tasks to the banking sector.

Governor Nguyen Thi Hong speaks at the meeting

Governor Nguyen Thi Hong expressed the sector's determination to further promote the spirit of solidarity, creativity, and to implement the tasks right from the beginning of the new year with the highest sense of responsibility, promoting the positive results achieved so far, striving to fulfill the assigned tasks, achieving higher progress and better results from the banking operations in 2025, with a view to contributing to the successful implementation of the socio-economic development goals of the country.

Earlier at the same meeting, SBV Deputy Governor Dao Minh Tu presented a brief report on the performance results of the banking sector in 2024 and the orientations for 2025. The SBV Deputy Governor emphasized that, in 2024, the SBV had proactively followed the world and domestic economic situations to conduct synchronous measures, in order to create favorable conditions for businesses and the people to access bank loans, recovering their production and business activities, contributing to promoting the economic growth, in collaboration with the maintenance of the macro-economic stability, controlling the inflation, and ensuring safe and sound banking operations.

Deputy Governor Dao Minh Tu reports on the performance results of the banking sector

The SBV had continued to maintain the key interest rates in the context of high interest rates around the world; regulated the exchange rate in a flexible and appropriate manner, contributing to responding effectively to the external shocks; and synchronously combined the monetary policy tools; maintained the stability, the safety and security of the credit institution system; controlled non-performing loans, etc.

With the SBV’s synchronous measures, as of December 31, 2024, credit of the entire economy increased by 15.08% as compared to that of the end of 2023, focusing on production and business activities, and priority sectors; accelerating the implementation of the credit packages such as a support package of VND 145 trillion for social housing loans, the credit package to support the forestry and the fisheries sectors.

Especially, the banking sector had urgently and promptly conducted measures to resolve difficulties for customers affected by Typhoon Yagi (Typhoon No.3).

Participants at the Spring Meeting of the Lunar New Year 2025

About the orientations for 2025, the SBV would continue to regulate the interest rates in line with the market developments, the macro-economic situation, the inflation and the monetary policy objectives; closely monitor the money market in order to regulate the exchange rate in a flexible manner in coordination with the monetary policy tools, contributing to controlling the inflation and maintaining the macro-economic stability; conduct measures to regulate the credit growth appropriately; implement strongly and effectively the Scheme of restructuring the system of credit institutions; promote strongly the digital transformation application in the banking sector; strengthen the safety and security in the payment and banking operations, etc.

LH-HY