The State Bank of Vietnam’s Governor Nguyễn Thị Hồng delivered guidance at the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) conference reviewing 2024 party work and business performance and setting priorities for 2025. She pointed to the central bank’s 2024 monetary policy management as supporting stability in money and foreign exchange markets, lower interest rates despite high global rates, and a return to stability in the gold market, and asked Vietcombank to continue implementing solutions and policies aligned with government and State Bank direction amid a challenging 2025 outlook. Vietcombank reported total assets exceeding VND 2,000 trillion as of 31 December 2024 (up 13% year on year) and outstanding credit above VND 1,440 trillion (up nearly 14%), with the non-performing loan ratio kept below 1% at 0.97%. The bank estimated budget contributions of VND 11.6 trillion in 2024 and over VND 48 trillion cumulatively over five years, and highlighted measures to keep lending rates low, reduce interest and transaction fees, and simplify lending procedures to support households and businesses. The update also noted Vietcombank’s compulsory transfer of Construction Bank and ongoing implementation of measures intended to bring it out of special control; the State Bank awarded emulation flags and the Governor’s commendations to four Vietcombank units. Vietcombank’s Chairman Nguyễn Thanh Tùng said the bank would translate the Governor’s instructions into specific programmes and action plans, targeting the objectives in its development strategy through 2025 and its 2021–2025 restructuring plan linked to non-performing loan resolution.

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