On the afternoon of September 21, at the Government Headquarters, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee working with joint stock commercial banks on solutions to contribute to the country's socio-economic development.
The Prime Minister said that this conference aims to continue evaluating monetary policy, especially in prioritizing growth, controlling inflation, ensuring major balances, and stabilizing the macro economy.
The Prime Minister requested delegates to contribute their opinions to accurately and fairly assess the monetary policy and macroeconomic management of the Government and The State Bank of Vietnam, including issues related to liquidity, interest rates, exchange rates, credit room, credit growth and lending interest rates in the current context and propose tasks and solutions for monetary policy in the coming time.
The Prime Minister hopes that banks will propose new policies to adapt to the situation, including policies for businesses and people affected by storms and floods; and at the same time, offer solutions related to credit growth and reasonable interest rates.
The Head of Government asked banks to share in the country's difficulties, especially regarding interest rates, to support people and businesses, to demonstrate the spirit of national solidarity, and to bring the country to rapid and sustainable development.
Emphasizing the determination to eliminate cumbersome administrative procedures that affect people and businesses; encouraging innovation, daring to think, daring to do, daring to take responsibility, the Prime Minister expressed his willingness to listen to the opinions and contributions of banks with an open-minded spirit to find solutions to contribute to the country's development.
According to The State Bank of Vietnam, by September 17, 2024, the credit growth of the whole system reached 7.38% compared to the end of 2023, of which, the private joint stock commercial bank sector increased by 8.6%, accounting for 45% of the market share, the highest increase in the whole system; credit structure is in line with the orientation of economic restructuring, continuing to focus on production and business activities, priority areas.
Total assets of 28 joint stock commercial banks as of June 30, 2024 reached VND 9.3 million billion, accounting for 45% of market share, of which 22 banks have assets of over VND 100,000 billion.
Total mobilized capital of joint stock commercial banks reached 8.7 million billion VND, up 5.44% and accounting for 46.1% of market share. Business results of joint stock commercial banks were quite…
In addition, the operations of commercial banks also face difficulties and limitations related to bad debts and potential debts becoming bad debts, the credit absorption capacity of enterprises and people is low, many enterprises have reduced or stopped production, and the pressure on bank credit continues to increase.
In addition, difficulties in the real estate market, slow growth of the world economy, complicated developments in the international market, high interest rates affecting domestic interest rates and exchange rates, natural disasters, storms and floods causing great damage, affecting the lives and production and business activities of customers.
