State Bank of Vietnam restructures organisation to 20 head units and consolidates 63 provincial branches into 15 regional offices

The State Bank of Vietnam held a nationwide online conference to announce the establishment of its Party Committee and a revised organisational structure and mandate under a new Government decree issued as part of the public-sector streamlining programme. The framework keeps the central bank’s functions unchanged under the State Bank Law 2010, while updating its formally assigned tasks and organisational set-up. Under the new arrangements, the State Bank of Vietnam will carry out 37 tasks, up from 35 previously. The organisational restructuring includes reducing the number of head units at the central bank from 25 to 20, and reorganising 63 provincial and municipal branches into 15 regional State Bank of Vietnam offices; the Banking Inspection and Supervision Agency’s internal unit count is reduced from 11 to seven. The State Bank of Vietnam also reported prior reductions in internal departments from 514 to 391 and staff from 5,491 to 4,963, including a reduction of 372 leadership and management roles; it plans to further cut internal departments from 391 to 212. The conference also announced personnel decisions, including appointments of unit heads, deputy directors and regional office directors, and reported 653 staff registrations for retirement or departure under downsizing arrangements. The Government decree takes effect on 1 March 2025 and replaces the previous decree governing the State Bank of Vietnam’s functions and organisation. The new structure is expected to begin operating from early March 2025, with preparatory teams tasked with ensuring continuity as units are dissolved, merged or reorganised.