The banking sector has taken an important part in realizing flexible monetary policies, played a decisive role in reining in inflation, maintaining macro-economy and ensuring social security, highlighted the PM.

As soon as the Government announced eight groups of solutions to re-balance the national economy in 2008, the sector quickly adjusted its targets and tasks in accordance with the country's economic reality.

By the end of the year, the total capital of the sector increased by 30% against 2007. The capital safety rate rose from 8.9% to 9.7%; the banking network continued to expand, making it ever easier for enterprises and people to access to capital sources and banking services.

Also in 2008, the banking sector submitted to the Government three bills, including the revised laws on the State Bank of Việt Nam and on credit organizations.

Tightening supervision and inspection over the whole system, consolidating capacity and enhancing international cooperation of the domestic commercial banks were among the sector's top priorities during the year.

Besides the achievements, PM Nguyễn Tấn Dũng said that the banking sector needs to seriously follow the Government's five groups of solutions to prevent economic recession by outlining monetary instruments, tightly controlling the quality of credit loans, renovating inspection works, ensuring safety of the banking system, and promoting international cooperation.

The Government chief ordered the banking sector to act as the major player in 2009 in carrying out monetary policies in order to guarantee the capital sufficiency for economic development and facilitate the Government’s guideline of investment and consumption stimulation.

By Hải Minh