Prime Minister Pham Minh Chinh is head of the steering committee for restructuring the system of credit institutions. (Photo: SGGP)
The steering committee led by Prime Minister Pham Minh Chinh includes members consisting of Deputy PM Le Minh Khai, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong and leaders of ministries and departments.
The steering committee is responsible for supporting the PM to direct and implement solutions to restructure credit institutions associated with bad debt settlement in accordance with decision 689/QD-TTg dated on June 8, 2022 on approving the Scheme on Restructuring the credit institution system associated with the handling of non-performing loans for the 2021 - 2025 period, and amending and supplementing documents. The committee is also responsible for proposing solutions for solving important problems, difficulties and challenges in restructuring the system of credit institutions.
Previously, Deputy PM Le Minh Khai signed Decision 689/QD-TTg to reduce the number of credit institutions and basically finish the settlement of poor-performing banks by 2025 to make the banking system develop healthily and sustainably, and improve the financial capacity and operational efficiency of credit institutions.