Vietnam Banks Association makes important contributions to the development of the banking industry.

As a bridge between credit institutions and state management agencies, the Vietnam Banking Association is considered to have played and continues to play a significant role in the development and innovation of the banking industry.

On May 10th, in Hanoi , the Vietnam Banking Association (VNBA) held a ceremony to celebrate its 30th anniversary (May 14, 1994 - May 14, 2024). Former and current leaders of the State Bank of Vietnam (SBV) attended the event.

Speaking on the occasion of the 30th anniversary, the Vice President and General Secretary of the Vietnam Banking Association, Dr. Nguyen Quoc Hung, emphasized that the establishment of VNBA marked a new stage of development for the Vietnamese credit institution system.

From then on, member credit institutions have had representative organizations to protect their legitimate rights and interests; acting as a bridge between member organizations and state management agencies, aiming for stability, safety, and efficiency, contributing to the implementation of government and State Bank of Vietnam policies to promote socio -economic development.

To date, the Association has 75 member organizations, including: 63 full members, 10 associate members, and 2 honorary members. Among them are 42 commercial banks, 14 finance companies, 15 payment intermediary and Fintech organizations, 2 organizations operating in the media and training sectors, and 2 other financial institutions.

Deputy Governor of the State Bank of Vietnam, Pham Tien Dung, assessed the activities of the Vietnam Banking Association (VNBA) at the anniversary celebration.

Evaluating the activities of the Vietnam Banking Association (VNBA) over the past 30 years, Deputy Governor of the State Bank of Vietnam Pham Tien Dung stated that the VNBA has been successfully fulfilling its role and position as a professional association, serving as a reliable bridge between member organizations and state management agencies, supporting members to cooperate and develop safely and effectively.

Specifically, VNBA has carried out key tasks for the banking industry such as: Actively participating in the management of credit institutions and the financial and monetary situation, such as resolving bad debts; contributing to the completion of a solid legal framework and building a modern, safe, and efficient banking system; acting as a focal point to connect and unite member organizations in agreement with the policies and management of the Government and the State Bank of Vietnam; serving as a reliable bridge between member organizations and state management agencies;…

With the positive results achieved, the Vietnam Banking Association (VNBA) received a Certificate of Commendation from the Prime Minister for "Outstanding and exceptional achievements in its work, contributing to stabilizing interest rates, controlling inflation, stabilizing the macroeconomy, and promoting socio-economic development." In addition, at the anniversary celebration, VNBA also received a Certificate of Commendation from the Ministry of Justice.

Alongside its achievements, and facing future challenges, VNBA will continue to strive and innovate to successfully fulfill its assigned tasks, focusing on key areas such as: Actively collaborating with member credit institutions to provide quality feedback on mechanisms, policies, and legal documents related to banking operations; and improving the quality and effectiveness of communication through the Financial and Monetary Market Magazine…

Source: https://phunuvietnam.vn/hiep-hoi-ngan-hang-viet-nam-dong-gop-quan-trong-cho-su-phat-trien-nganh-ngan-hang-20240510233031907.htm