Banking sector to maintain the lifeblood of the economy

February 22, 2022 | 13:16
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Top bank leaders have discussed their development trajectories for the new year to successfully meet all economic goals set for 2021-2025.
Banking sector to maintain the lifeblood of the economy

Perfectly performing the role of banking operations management

Banking sector to maintain the lifeblood of the economy
Nguyen Thi Hong
State Bank of Vietnam

The banking sector has overcome a wide range of issues, focussing on controlling inflation, while stabilising the macro-economy and foreign exchange markets.

In the coming months, the industry will continue to promote solidarity to aid development.

Leaders of member units under the State Bank of Vietnam (SBV) uphold a sense of responsibility. Their roles as heads of the units include monitoring macro developments at home and abroad, proactively advising to ensure their goals are achieved.

At the same time, efforts are geared towards effectively performing the role of operations management.

Units and individuals within the system, regardless of their position, need to perform well and contribute to the achievements of the banking system to aid national development.

Contributing to production expansion and macroeconomic stability

Banking sector to maintain the lifeblood of the economy
Pham Quang Dung

Vietcombank has implemented effective measures to maintain business continuity and has introduced initiatives to provide quick, convenient, and contactless solutions for customers.

The company has donated nearly $18.7 million to the health sector and frontline forces and is focused on reducing interest and fees for customers by more than $300 million.

The bank continues to be an important source of capital for the economy, actively contributing to production expansion and macroeconomic stability.

Amid vulnerabilities in both global and domestic markets, the spirit of innovation and determination of the SBV’s leaders will be the foundation for Vietcombank to continue to develop rapidly and sustainably, reaffirming its position as the No. 1 bank in Vietnam.

Ready for the journey ahead

Banking sector to maintain the lifeblood of the economy
Pham Duc An

Agribank strives to ensure safe and effective operations, fully meet its targets, and pilot diverse solutions to support customers.

This year the bank has identified some issues that need to be addressed.

The first is to maintain performance at the highest possible level, continuing to play a role as a major state lender in the financial market, especially in agriculture and rural development.

Together with the whole banking sector, it must also implement solutions to support the economic rebound.

Finally, focus is needed to modernise and improve the quality of human resources. Investments will be made in the application of technology, paired with the implementation of the National Financial Inclusion Strategy.

Entering its 34th year of operation, Agribank is confident about a successful journey ahead.

Internal strength focused on future prospects

Banking sector to maintain the lifeblood of the economy
Truong Khanh Hoang
Acting CEO

SCB is implementing solutions to improve financial capacity, focusing on restructuring balance sheets and improving performance indicators and profitability indices towards listing on the stock exchange.

To achieve these goals, SCB focuses on rebuilding the customer base by enhancing customer experience and ensuring optimal service quality.

SCB will also complete the restructuring of competitive products to further expand its customer base and rejuvenate itself as a dynamic and comprehensive retail bank.

SCB will also work on its large-scale digitalisation and build an advanced customer analysis technology platform in 2022.

Further, the bank will adjust its salary structure and performance management system, aiming to improve productivity and motivate employees, while also promoting training to bolster our team's capacity.

Promoting retail banking strategy amid a strong rebound

Banking sector to maintain the lifeblood of the economy
Nguyen Dinh Tung

Effectively controlling the pandemic is a smart move of the government to protect people's lives and health in the best possible way and achieve a socioeconomic rebound.

As the banks are their own type of business, their activities will be good and develop stronger whenever the economy recovers. This year will be a period of blooming innovative research in the sector, especially when it comes to digitalisation in internal operations, with the great support of the SBV.

OCB will continue to apply strict standards like Basel 2, Basel 3, and IFRS 9, in the management and control of organisational activities.

At the same time, OCB will promote its retail banking strategy with the desire that customers have the feeling and experience that OCB is truly their bank.

Innovation and diversification of revenue sources

Banking sector to maintain the lifeblood of the economy
Tran Ngoc Tam
Nam A Bank

Economic rebound programmes will have a positive impact on Vietnam's economy and the banking system. The market will entail numerous opportunities for businesses and organisations capable of early and quick measures to adapt to new market conditions. Each organisation needs to have apropriate solutions to best avail of the strong investment wave into Vietnam, especially in finance and insurance.

Deepened integration requires all actors to be more professional with stronger digital transformation. For the finance and banking industry, in parallel with promoting the digitalisation of operations and activities, banks are continuing to improve their financial capacity towards Basel 3 standards.

At Nam A Bank, we aim for sustainable development, diversifying revenue sources from developing services and cross-selling products.

This year marks an important milestone to celebrate Nam A Bank’s 30th anniversary. Putting on a new look, we are ready to innovate and match dynamic integration trends.

Along with strengthening internal resources and developing the business sustainably, digitalisation remains a key strategy in the bank's activities.

By Hong Dung

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