The State Bank of Vietnam (SBV) held a working session with the Banking Working Group (BWG) to review 2024 cooperation and align on a 2025 joint work programme, prioritising banking rulemaking, digital transformation and modern payments, and community-oriented initiatives. The session was co-chaired by Deputy Governor Pham Thanh Ha and BWG Chair Kojima Masao, who is also MUFG Bank’s Chief Executive Officer. SBV highlighted 2024 sector outcomes including GDP growth of 7.09% and average inflation of 3.63%, with total system credit reaching VND 15.6 quadrillion and rising 15.09% versus end-2023. It also referenced completion of mandatory transfers of four weak banks and non-performing loans being kept below the 3% target, alongside continued supervisory activity. On payments, SBV cited adult payment account ownership above 87% by end-2024, a decline in ATM cash withdrawals (down 15.56% by volume and 10.82% by value), and biometric verification applied to 95.2 million individual customer records by February 2025, alongside strengthened payment security measures. BWG’s more than 40 member banks contributed comments and international good practices to drafts and amendments covering five laws and law-building outlines, 10 decrees and 34 circulars, including guidance linked to the Law on Credit Institutions. For 2025, the joint plan includes continued engagement on legal drafting and digitalisation, and a proposal to hold the annual Vietnam Business Forum in March, with SBV’s International Cooperation Department acting as the coordination focal point.

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