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BY 2025, AT LEAST 250,000 SMALL AND MEDIUM-SIZED ENTERPRISES HAVE CREDIT RELATIONSHIP WITH CREDIT INSTITUTIONS

On January 22, 2020, the Prime Minister issues the Decision No. 149/QD-TTg on the approval of the National financial inclusion strategy in Vietnam until 2025, with vision towards 2030.

 

Accordingly, the Government sets out the following targets to achieve until the end of 2025:

First, at least 80% of adults have transaction accounts at banks or other qualified institutions; towards 2030, every adult shall have at least one transaction account at banks or other qualified institutions.

Besides, there shall be at least 20 banking branches and transaction offices for each 100,000 adults. At least 50% of the total number of communes shall have financial service provider points (branches and transaction offices of credit institutions and agent banks; except for service provider points of the Vietnam Bank for Social Policies).

Especially, at least 25% to 30% of adults shall have saving accounts at credit institutions; the number of cashless transactions shall reach the annual growth rate from 20% to 25%; there shall be at least 250,000 small and medium-sized enterprises which have credit relationship with credit institutions; revenue from insurance shall account for 3.5% of the GDP...

In order to reach the above targets, the Government advocates to complete the legal framework to create favorable conditions for the fulfillment of financial inclusion targets; develop agent banking model to expand the coverage of banking services points to people living in areas with limited or no access to banking services.

This Decision takes effect on the signing date.

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