Vietnam Daily News

Banks Association holds fifth tenure congress

Written by Dailynews.vn Tuesday, 13 December 2011 16:46

Representatives from the State Bank of Vienam (SBV) attended the fifth tenure congress of the Vietnam Banks Association (VNBA) in Hanoi on December 10, along with 54 commercial banks and financial companies.

In its past term, the VNBA successfully connected its members via a number of meetings and conferences to provide them with updated information on Party and State policies for overcoming the economic recession, controling inflation and managing interest rates, as well as the development strategy for the banking sector.

VNBA members have initiated various methods for preventing unfair competition and have called for more transparency in the industry.

Vietnam is restructuring its economy in the coming term, which will include commercial banks and create both challenges and opportunities for VNBA members.

The VNBA will continue to serve as a link between its members and other State agencies, create suitable training programmes, and expand and strengthen bilateral cooperation with other international banking associations.

VNBA general Secretary Duong Thu Huong said the association should focus on implementing State monetary and financial policies, effectively mobilising capital and providing the credit necessary for economic development.

VNBA members should also improve their capacity and competitiveness, and promote professional training for their staff, she added.

Participants passed the congress' resolution and elected Chair of the Board of directors of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Nguyen Hoa Binh, as its new VNBA Chair.

Source: www.intellasia.net/news/articles/finance/111350561.shtml