Topic: Central Banks

Statement adopted at the close of the two-day 10th ASEAN Finance Ministers and Central Bank Governors Meeting in Indonesia on August 24-25.

Bank instructed to manage monetary policy firmly, flexibly, and effectively.

At a meeting with leaders of commercial banks on October 16, Prime Minister Pham Minh Chinh asked them to comply with the law and strengthen their governance capacity. Vietnam’s commercial bank sector has continually grown in scale, quality, and financial capacity. Total assets at joint stock commercial banks stand at VND7.5 quadrillion ($307.15 billion) and at four State-owned commercial banks more than VND7 quadrillion (286.7 billion).