"The determinant for the success of the plan for
restructuring the banking system is a wise choice to deploy solutions, and
encourage the participation of the private sector, maintaining the trust of the
people and ensure the leading role and control of the Government in this whole
process," State Bank of Vietnam (SBV) Governor Nguyen Van Binh said when
talking about restructuring the banking system.
Binh said that he will propose
to the government six groups of measures to restructure the banking system. In
addition to encouraging merger or acquisition of banks, there is a need to deal
with bad debts and ensure the chartered capital in accordance with the law,
change the business model of banks from dependence on credit to increase
revenues from services.
According to the SBV governor,
this time there are many advantages to restructure the banking system as the
economy is no longer under pressure of growth, but focusing on macroeconomic
stability, and restructuring the banking system placed in the corporate and
investment restructuring program. The ultimate goal is to build the multi-bank
system with safe and efficient operations and diversity of ownership and
increase the scale and management in accordance with international standards.
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