• An Giang
  • Binh Duong
  • Binh Phuoc
  • Binh Thuan
  • Binh Dinh
  • Bac Lieu
  • Bac Giang
  • Bac Kan
  • Bac Ninh
  • Ben Tre
  • Cao Bang
  • Ca Mau
  • Can Tho
  • Dien Bien
  • Da Nang
  • Da Lat
  • Dak Lak
  • Dak Nong
  • Dong Nai
  • Dong Thap
  • Gia Lai
  • Ha Noi
  • Ho Chi Minh
  • Ha Giang
  • Ha Nam
  • Ha Tinh
  • Hoa Binh
  • Hung Yen
  • Hai Duong
  • Hai Phong
  • Hau Giang
  • Khanh Hoa
  • Kien Giang
  • Kon Tum
  • Lai Chau
  • Long An
  • Lao Cai
  • Lam Dong
  • Lang Son
  • Nam Dinh
  • Nghe An
  • Ninh Binh
  • Ninh Thuan
  • Phu Tho
  • Phu Yen
  • Quang Binh
  • Quang Nam
  • Quang Ngai
  • Quang Ninh
  • Quang Tri
  • Soc Trang
  • Son La
  • Thanh Hoa
  • Thai Binh
  • Thai Nguyen
  • Thua Thien Hue
  • Tien Giang
  • Tra Vinh
  • Tuyen Quang
  • Tay Ninh
  • Vinh Long
  • Vinh Phuc
  • Vung Tau
  • Yen Bai

Banking sector – An effective monetary tool for Gov’t

VNGOP – Standing Deputy PM compared the banking and financial system as the “nervous system” governing the country’s economic activities and asked it to operate more effectively, especially in providing clear-sighted strategies and assisting the Government to deal with difficulties and maintain growth rate.

April 02, 2008 7:07 AM GMT+7

 Deputy PM Nguyễn Sinh Hùng confers the Hồ Chí Minh Medal to Vietcombank - Photo: VNGOP

At the 45th anniversary of the Bank for Foreign Trade of Việt Nam (Vietcombank-VCB), one of the leading State-owned banks in Việt Nam, held on April 1, Deputy PM Hùng valued the banking sector as an effective monetary tool for the Government to manage the national economy.

About seven State-owned banks, 48 joint-stock trade ones, over 900 cooperative ones, five joint-ventures, 24 branches of foreign banks and a large number of financial companies and credit organizations compose a broad network which has facilitated the monetary circulation among enterprises, contributing to the economic development.

Deputy PM Hùng urged VCB and the whole sector to improve their management tools, ensure the safety of the credit system, increase their competitiveness, draft the roadmap of equitization, select strategic shareholders, enlarge financial scale, and acquire international standards. He also suggested VCB to continue its leading position and become a powerful bank.  

Chairman of VCB's Board of Directors Nguyễn Hòa Bình revealed that VCB is planning to build a multi-functional financial group. By late 2007, VCB opened nearly 200 branches and transactional offices nationwide, established relations with over 1,000 banks in the world. It earned the total assets of nearly VND 196 trillion and the total pre-tax income of over VND 3 trillion. VCB targets to become a multi-functional financial group in ASEAN and one of 70 top banks in Asia by 2015.

 By Thanh Thúy