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On January 20, 2025, the Governor of the State Bank of Vietnam (SBV) issued Directive No. 01/CT-NHNN on key tasks of the banking sector in 2025. This Directive is aimed at implementing Resolution No. 158/2024/QH15 of the National Assembly, Resolution No. 01/NQ-CP of the Government, and the directives of the Party Personnel Committee of the SBV.

Directive 01 emphasizes the objective of implementing a flexible and effective monetary policy, ensuring macroeconomic stability, controlling inflation, and supporting economic growth. Credit institutions (CIs) and foreign bank branches in Vietnam are required to implement synchronized measures to enhance the efficiency of the banking system.

11 Key Tasks of the Banking Sector In 2025

1. Streamlining and enhancing the efficiency of the organizational structure
   The SBV will focus on reviewing, restructuring, and streamlining its organizational apparatus to ensure operational efficiency and effectiveness in accordance with the directives of the Politburo, the Government, and the Prime Minister.
2. Proactive and flexible monetary policy management
   Monetary policy will be implemented in coordination with fiscal policy and other economic policies to ensure macroeconomic stability, control inflation, and promote economic growth.
3. Credit management aligned with macroeconomic conditions
   The SBV requires CIs to grow credit in a safe and effective manner, supporting production and business activities while controlling inflation and stabilizing the financial system. The credit growth target for the entire system is projected at approximately 16% in 2025, with flexibility for adjustments based on actual developments.
4. Foreign exchange and gold trading management
   The SBV will implement measures to stabilize the foreign exchange market, support monetary policy operations, and propose regulatory solutions for gold trading activities in the new economic context.
5. Improvement of the legal framework in the banking sector
   The SBV will continue to innovate its legal development approach, ensuring that regulations meet state management requirements while facilitating financial institutions, businesses, and citizens.
6. Restructuring credit institutions in connection with bad debt resolution
   The SBV requires CIs to strictly implement the Restructuring Plan for the Credit Institution System for the 2021-2025 period and submit proposals for handling weak institutions to ensure a healthy banking system.
7. Strengthening anti-money laundering and counter-terrorist financing measures
   The SBV will rigorously implement the National Action Plan to fulfill Vietnam’s commitments to combating money laundering, terrorist financing, and the proliferation of weapons of mass destruction.
8. Promoting cashless payments and digital transformation
   The banking sector will continue to fulfill the objectives of the Cashless Payment Development Plan and the Digital Transformation Plan, ensuring the safety and security of the payment system.
9. Enhancing administrative reforms
   The SBV will direct the simplification of administrative procedures, reducing compliance costs, facilitating business operations, and improving public confidence in the banking system.
10. Implementation of the Banking Sector Development Strategy
    CIs will oversee and implement the Banking Sector Development Strategy towards 2025, with an orientation toward 2030.
11. Practicing thrift and preventing wastefulness
    The SBV requires organizations in the banking sector to implement cost-saving measures, optimize resources, and ensure operational efficiency.

The State Bank of Vietnam is implementing flexible monetary policy and banking solutions to maintain macroeconomic stability, control inflation, and support economic growth in 2025. (Source: VnEconomy)

Specific Requirements for Credit Institutions

• Strictly comply with the SBV’s regulations on credit growth, interest rates, and foreign exchange management.
• Implement financial and business plans for 2025 in alignment with the SBV’s policy directions.
• Strengthen charter capital in accordance with the Banking Sector Development Strategy for the 2025-2030 period.
• Control bad debts and improve credit quality to ensure the stability of the financial system.
• Enhance information technology applications and digital transformation to optimize operations and reduce costs.
• Stabilize deposit interest rates, reduce costs, and strive to lower lending rates to support businesses and individuals.

With these comprehensive solutions, the SBV aims to establish a solid foundation for the sustainable development of the banking system, making a positive contribution to the country’s economic and social progress.

My Hoàng