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The members attending the meeting were members of the Board of Members, members of the Board of Executives, the Head of the Board of Controllers, and the heads of departments at the head office.

According to the statistics from the General Statistics Office, GDP in Q2/2023 increased by 4.14% compared to Q1/2023, with an increase of 3.28%. In the first 6 months of the year, GDP increased by 3.72%. Many businesses have had to reduce production due to a decrease in orders and an increase in production costs, especially in the textile and garment, leather and footwear, and wooden furniture industries, where these three industries have recorded a sharp decline in orders.

Facing the challenging economic situation, as of June 15, the credit growth of the entire economy reached 3.36%, equal to only 20% of the target set for the whole 2023 (according to the press conference by the State Bank of Vietnam held in June 2023). The goal of the banking industry is to promote credit growth, but it must be balanced with the bank’s lending capacity and the economy’s capital absorption capacity.

At the meeting, the BOM identified 2023 as a challenging year and requires a great deal of effort to achieve the set business targets. Specifically, in the context of low credit growth for the entire banking industry and the increasing risk of bad debts, BSL’s leadership always maintains stable growth while ensuring credit quality and efficiency.

In the challenging context, BSL believes that 2023 still has opportunities with decisive measures to support businesses from the State Bank of Vietnam and the government, including future interest rate cuts.

In addition, the government’s support packages are expected to unlock capital flows and create conditions to promote the manufacturing and construction industries. Public investment is given priority with a record-high total capital (over 25% higher than last year), providing motivation for the development of construction, transportation, and building materials industries.

As inflation decreases, the signs of economic recovery in the West and the demand for shopping at the end of the year will bring export orders back.

The task of BSL is to continue to maintain stability and safety in credit growth operations, prepare available capital resources to anticipate positive signals of the economy, and achieve the set targets.

At the meeting, BSL was awarded a certificate from Sumitomo Mitsui Trust Bank and Sumitomo Mitsui Trust Panasonic Finance Company for its positive contributions to the group.

In particular, BSL is proud to be the first organization to receive a certificate of excellence from Sumitomo Mitsui Trust Bank for its tireless contributions to the growth of the group.

BSL received certificate of excellence from SMTPFC

BSL received certificate of excellence from Sumitomo Mitsui Trust Bank