Banking sector urged to deal with shark loans

VGP – Prime Minister Nguyen Xuan Phuc has asked the banking sector to proactively work with the Ministry of Public Security to deal with shark loans and create favorable conditions for the people to access bank loans.

January 09, 2019 5:15 PM GMT+7

PM Nguyen Xuan Phuc addresses the event - Photo : VGP

The Government leader made the request at a conference held by the State Bank of Viet Nam (SBV) in Ha Noi on January 9 to deploy the sector's tasks in 2019.

He highly appreciated the efforts made by the SBV in handling bad debt, stabilizing the macroeconomy, promoting growth, and controlling inflation at 3.54% last year.

PM Phuc requested the SBV to continue regulating the monetary policy in a flexible, precautious and effective fashion, and harmoniously combine the monetary policy and other policies, in addition to persisting with the goal of ensuring macroeconomic stability, controlling inflation and accelerating growth.

Photo: VGP

He insisted on reasonably controlling credit growth and improving credit quality, with a focus on the priority areas.

The SBV was also asked to boost the restructuring of credit institutions in association with handling bad debts, while accelerating administrative reforms to make it easier for the people and businesses to access banking services.

At the conference, leaders of commercial banks recommended to the PM on the prompt increase of charter capital for state commercial banks, hailing this as an urgent issue in the current period.

By Vien Nhu