Banking Industry Enters New Term: Identifying 3 Breakthroughs

Important political events of the banking industry

The 1st Congress, term 2025-2030, was held with the motto "Innovation - Creativity - Discipline - Democracy - Flexibility - Efficiency", taking place in the context of the country celebrating many important events in 2025.

In her opening speech, Party Secretary and Governor of the State Bank of Vietnam Nguyen Thi Hong said that this is a special Congress, taking place after the State Bank of Vietnam completed the restructuring of its organizational structure. During the preparation process, the Party Committee has carried out personnel work for the Party Committee, the Inspection Committee of the Party Committee for the new term, and the personnel of the delegation attending the Government Party Congress according to regulations.

The Governor emphasized that the Congress has the task of summarizing the 2020-2025 term, reviewing the leadership of the Party Executive Committee and the Standing Committee of the SBV Party Committee before and after the organizational arrangement, and at the same time determining the directions, tasks and solutions for the 2025-2030 term. The Congress also discussed and contributed opinions to the draft Political Report to be submitted to the Government Party Congress and the Draft Documents of the 14th National Party Congress.

Over the past 5 years, despite facing many difficulties and challenges, the Party Committee of the State Bank of Vietnam has led the entire system in solidarity and made efforts to successfully complete assigned tasks, achieving important and comprehensive results in all aspects of work.

According to the Governor, the SBV Party Committee always closely follows the Resolution of the 13th National Congress, the Resolution of the Party Congress for the 2020-2025 term and the developments of the practical situation to concretize them into key tasks. The leadership and direction methods are innovative, creative, in-depth, drastic, and suitable for each stage. The role and responsibility of the Party Committee Secretary and the head are promoted; the fighting spirit of the Party organization and the spirit of solidarity and democracy within the organization are increasingly consolidated.

The work of building the Party in terms of politics, ideology and ethics has been carried out seriously, promptly and effectively. Inspection and supervision work has been strengthened, discipline and order have been tightened, and the degradation of ideology, ethics and lifestyle has been effectively prevented. Mass mobilization work has been associated with political tasks, and the banking sector has become a bright spot in social security.

Many outstanding results

The Political Report presented by the Standing Deputy Governor of the State Bank of Vietnam, Dao Minh Tu, highlighted the outstanding results. In particular, the banking sector has supported the economy and ensured social security: Exempting and reducing lending interest rates to help businesses and people overcome difficulties and restore production. Policy credit programs through the Social Policy Bank have been implemented promptly, contributing to poverty reduction.

Improve the effectiveness of inspection, supervision and system restructuring: Banking inspection and supervision are innovated, shifting from compliance inspection to risk monitoring. Resolutely implement Project 689 associated with bad debt settlement in the 2021-2025 period, including the compulsory transfer of four banks.

Pioneering in digital transformation and technology development: Many banking operations have been 100% digitized; more than 95% of transactions at many credit institutions are conducted on digital channels. Cashless payments have achieved impressive results; coordinated with the Ministry of Public Security to implement Project 06, biometrically comparing more than 113 million customer records.

Focus on organization and personnel work: Implement Resolution 18 on streamlining the apparatus; perfecting personnel work processes; tightening discipline and order; building a culture of innovation and creativity.

Regarding Party building work, the Party Committee Standing Committee closely followed the resolutions and concretized them into key tasks. Inspection and supervision work was strengthened; prevention and combat of corruption, waste and negativity were resolutely implemented. Mass mobilization work was closely linked to political tasks, affirming the role of the sector in social security.

Regarding political tasks, inflation control still faces many challenges; the economy still depends heavily on bank capital; implementation of some credit programs remains difficult; bad debt poses potential risks; high-tech crime is complicated.

Regarding Party building work, the COVID-19 pandemic and the restructuring of the apparatus have affected political theory training; the large volume of professional work has limited the time available for Party work; the staff apparatus is still lacking in personnel.

The Party Committee of the State Bank of Vietnam has determined the direction: promoting solidarity, innovation, creativity, daring to think, daring to do, daring to take responsibility. The goal: to operate monetary policy flexibly and effectively, control inflation, stabilize the macro-economy; by 2030, science, technology and innovation will play a decisive role in improving management and business capacity.

Three breakthrough contents include: Institutional issues, removing bottlenecks and bottlenecks in banking operations; science, technology and innovation: Applying technology, developing sustainable financial products, contributing to green growth; human resources: Building a lean, elite, highly qualified staff to meet the requirements of the new era.

The Congress called on Party committees and organizations at all levels, all cadres and Party members of the Banking sector to unite and strive to successfully achieve the set goals, build a clean and strong SBV Party Committee, and join the country in entering a new era of development: rich, strong, prosperous and thriving.

Mr. Minh

Source: https://baochinhphu.vn/nganh-ngan-hang-buoc-vao-nhiem-ky-moi-xac-dinh-3-dot-pha-102250814153832965.htm