Vietnam Approves Development Strategy for the Banking Sector till 2025 – Period Objectives 2021-2025

2021 to 2025

Credit institutions should operate in accordance with international standards. In addition, Decision 986 also focuses on increasing the competitiveness and transparency of such institutions.

End of 2025

  • Maintain the bad debt ratio below three percent;
  • Increasing the share of non-credit services to the total income of a commercial bank to around 16 to 17 percent;
  • Most banks should follow the Basel II standards; and
  • At least two to three commercial banks should be among the top 100 largest banks in Asia and three to five banks should be listed on foreign stock markets.

The implementation of Decision 986 which is already in effect, will be supervised by the SBV. It will also be responsible for formulating plans and tasks focusing on banking legal framework, monetary regulations, foreign exchange, and payment systems.

 

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