Banks urged to restore market confidence
(VOV) - State Bank of Vietnam (SBV) Governor Nguyen Van Binh believes the banking sector will implement practical measures to limit inflation rates to between 6–7 percent and maintain a credit growth rate of 12–13 percent.
Addressing a conference in Ho Chi Minh City on January 22, Governor Binh highlighted the banking sector’s operational efficiency during 2012 and expressed optimism about the national economy’s 2013 prospects despite lingering challenges.
He asked HCM City-based banks to focus on regaining market confidence by settling bad debts, reducing inventory levels, and pushing on with bank restructuring processes.
Nguyen Thi Hong, Vice Chairwoman of the HCM City People’s Committee, praised local banks’ consistent efforts to endow the economy with greater credit access and help businesses respond to difficulties exacerbated by the current economic context.
She called on banks to continue offering struggling economic organisations incentivized loans and unite with municipal authorities as they work to control inflation, stabilise the macroeconomy, and ensure social welfare.