Tạp chí của Hiệp hội Ngân hàng Việt Nam
Artificial intelligence and workforce skill transformation in banking
This paper examines the profound influence of artificial intelligence (AI) on the banking sector, highlighting the decline in demand for traditional skills and the emergence of new competencies such as data analytics, AI ethics governance, and interdisciplinary integration. The study reveals that AI not only automates repetitive tasks but also fosters a hybrid workforce model combining human and machine collaboration. Banks must adapt their training and recruitment strategies, emphasizing digital skills, lifelong learning, and ethical AI frameworks to maintain competitiveness in the digital era.
money transfer fraud in some countries and several suggestions and recommendations
The development of payment technology has raised challenges for the regulatory authorities in dealing with money transfer fraud. In the next few years, money transfer fraud is predicted to continue to increase significantly globally with huge losses. This article focuses on analyzing types of money transfer fraud through bank accounts and proposes some recommendations for regulatory authorities in Vietnam.
Strategic challenges for international financial centers
This paper examines the multifaceted challenges confronting International Financial Centers (IFCs) amid an increasingly complex global financial landscape. Key issues include regulatory compliance pressures related to anti-money laundering, tax transparency, and data privacy; disruptions from financial technologies such as blockchain and artificial intelligence; competition from emerging IFCs in Asia and the Middle East; and geopolitical risks, economic volatility, talent demands, and sustainability requirements. The analysis underscores the need for investment in technology, regulatory harmonization, and enhanced international cooperation to maintain competitiveness. Green finance emerges as a critical opportunity for IFCs to reposition themselves in addressing climate change. The paper concludes that a holistic approach is essential for IFCs to adapt and thrive in a rapidly changing world.
Factors affecting income diversification in Vietnam commercial banks
The development of financial market along with the drastic change of digital technology is strongly changing the banking sector, the competition between domestic and foreign banks is increasingly fierce, forcing banks to diversify to increase competitiveness, minimize risks by spreading risks in many different areas. The authors use audited financial statements and annual reports of 27 commercial banks in the period 2008-2022 to evaluate the factors affecting income diversification, applying panel data regression model with generalized least squares (GLS) method to overcome the phenomenon of heteroscedasticity and autocorrelation in the research model, using Stata 17 software to calculate and process data. The results show that the cost/income ratio index has a negative correlation, the bank size (SIZE) has a positive correlation, while ROA, CAR, GDP growth rate and inflation rate have no statistical significance in affecting income diversification of Vietnamese commercial banks.
API: The Revolutionary driving force in banking
In recent years, along with the continuous advancement of science and technology, the banking sector has undergone a technological revolution with a significant emergence of Application Programming Interfaces (API) in financial and banking services. API is considered one of the crucial bridges in linking systems, and it serves as a foundation for banking services to be improved and expanded. API is regarded as a revolutionary driving force in banking sector. The article brings a deeper look at how banks integrate API and its positive impacts.
Cloud computing application trends in banking operations in Vietnam
Cloud computing has emerged as a strategic solution that enables Vietnam banking sector to optimize operations, reduce costs, and create services & products that satisfy customer requirements in the context of robust digital transformation. Nevertheless, the integration of outdated systems, security concerns, and investment costs continue to impede the widespread implementation of this technology. Simultaneously, the State Bank’s legal policies and strategies have established advantageous circumstances to facilitate this process. Research on cloud computing is not only practical but also significant implication in regards to the proposing suitable solutions and development directions for Vietnam banking sector.
Building ESG strategy - Shaping sustainable future for Vietnam commercial banking system
The integration of ESG (Environmental, Social, Governance) principles into Vietnam commercial banking system has emerged as an inevitable trend, an objective requirement, and a strategic priority to foster sustainable development amid globalization, climate change, and digital transformation. Recognizing the significance of ESG, the Government Vietnam has introduced guiding policies, including the National Strategy on Green Growth (Decision No. 1658/QD-TTg, dated October 1, 2021) and Circular No. 17/2022/TT-NHNN issued by the State Bank of Vietnam, mandating the assessment of environmental and social risks in credit activities. This study analyzes the theoretical framework of ESG, its implementation trends in developed countries, and the practical application in Vietnam. The findings confirm that ESG integration not only enables effective management of non-financial risks, enhances reputation, strengthens competitiveness, and attracts sustainable investment capital, but also contributes to national green economic objectives, laying a robust foundation for the long-term development of Vietnam banking system in the era of global finance.
ESG Implementation in Vietnam Banking sector: Perspective from the legal framework
The comprehensive implementation of ESG (Environmental, Social, and Governance) not only helps the banking sector develop more sustainably but also contributes to creating momentum for the Vietnam economy in moving towards green and sustainable financial standards in line with international trends. This research paper analyzes the implementation of ESG in Vietnam banking sector from a legal framework perspective. The article provides an overview of current policies, regulations, and orientations related to ESG, clarifies legal barriers as well as potential opportunities that ESG brings to the Vietnam banking sector. In addition, the paper also analyzes the challenges in the ESG implementation process in Vietnam, especially the lack of consistency in legal regulations, difficulties in measuring ESG impacts, and limitations in the implementation capacity of credit institutions. Finally, the research paper offers some policy recommendations to improve the legal framework, build an effective monitoring mechanism, and promote green credit policies.
Impacts of saving interest tax on Vietnam banking sector
The banking sector plays a pivotal role in the economies of all nations, acting as an important bridge in the circulation of capital from depositors to borrowers. Savings deposits from customers not only constitute the main source of capital for banks, but also the basis to generate profits through credit and investment activities. Savings deposit interest rate, therefore, not only plays a role in attracting customers but also an essential element in the financial structure of banks. However, when the government imposes a tax on savings deposit interest, the spill-over effects can have a profound impact on the operations of the banking sector, as well as the behavior of the depositors. The article aims to analyze direct and indirect impacts of savings deposit interest tax policy on the banking sector, and at the same time with the reference from international practices to propose some policy recommendations, especially in the context of Vietnam - a developing economy with an expanding banking system.
Promoting financing for small and medium enterprises: A view from the Vietnam Banks Association
At present, small and medium-sized enterprises (SMEs) account for nearly 98% of the total number of enterprises in Vietnam. SMEs play an important role in job creation, poverty reduction, improving workers' income, contributing to the state budget and economic growth. However, this sector still faces many difficulties and challenges, including obstacles and barriers related to capital accessibility, especially credit capital. The article explores the current situation of Vietnamese enterprises in 2024, along with supporting policies of the banking sector from the perspective of the Vietnam Banks Association, thereby proposing a number of solutions to remove obstacles and promote access to credit capital for this group of enterprises.
Experience in innovating refinancing tool of the Bank of Korea in the context of market-oriented management
As a central bank, the Bank of Korea (BOK) has implemented monetary policy to achieve price and financial stability, thereby contributing to the sound development of the national economy. Refinancing is one of the indirect tools used by the Bank of Korea to achieve these objectives of monetary policy. In the past time,, the Bank of Korea has introduced many innovations in operating this tool, especially from policy financing to regulating market liquidity. This article focuses on studying the Bank of Korea’s experience in innovating refinancing tool within a market-oriented framework, on that basis, proposing some lessons for Vietnam in operating refinancing tool.
Banks encounter difficulties in the implementation of Land law
It can be seen that the 2024 Land Law has institutionalized many new policies and guidelines of the Party and the State; including breakthrough regulations based on the summary and assessment of practical practices from the people and society, thereby creating momentum for the country's socio-economic development. The 2024 Land Law also have a direct impact on banking activities, facilitating more transparent, sound, safe and effective operation of the banking system. However, there are still some difficulties and obstacles for the banking system. The article points out some difficulties and hinderances of commercial banks, and at the same time proposes several recommendations for commercial banks and competent authorities.
Improving credit risk management at Vietnam Development Bank in the current period
The article analyzes the situation and offers solutions for improving credit risk management at Vietnam Development Bank (VDB) in the current context. VDB, which plays an important role in implementing national credit policy, is currently facing challenges due to the lack of an effective credit risk management model, leading to a high bad debt ratio. To improve the situation, the authors have made a comprehensive assessment of credit risk management at VDB and proposed many measures, including: restructuring the management apparatus, building risk appetite management strategy, implementing a three-line system of defense, standardizing the document system for management and decentralizing decision-making authority in credit activities. These proposals not only aim to optimize risk management, but also promote sustainable development of the bank, while ensuring the effective implementation of the State’s macroeconomic goals.
Sustainable development is a growing global trend with increasing demands from stakeholders. Therefore, environmental, social and governance (ESG) standards have become one of the focuses to help businesses integrate sustainability factors into their business operations. In Vietnam, integrating ESG into business operations is necessary for Vietnamese businesses to shift from rapid growth to sustainable growth, ensuring long-term benefits for the economy and society. In recent years, there has been a significant increase in awareness and application of ESG principles in Vietnam thanks to active efforts from the Government and business community. However, the ESG practice in Vietnam still faces certain difficulties and challenges such as the lack of a complete, comprehensive and detailed legal framework; framework for measuring and evaluating the effectiveness of ESG activities; financial and human resources.
Green credit development: Perspective from state management agencies
To realize the commitment at COP26 to bring net emissions to zero by 2050, Vietnam has been actively implementing policies to promote green credit through the banking system and financial institutions. Playing a key role in policy making and guiding credit institutions towards financing green sectors, the State Bank of Vietnam has issued specific regulations to integrate environmental protection factors into credit extension activities, requesting commercial banks to conduct environmental risk assessments when appraising loans. This helps ensure that capital flows not just bring economic benefits but also contribute positively to environmental and social goals.
Analysis of banking supervision with game theory model
The paper uses Game Theory to analyze the supervisory behavior of regulatory agencies in banking, aiming to achieve a mixed Nash equilibrium strategy. Based on this analysis, it provides recommendations for enhancing the supervision mechanism of Vietnamese banks, including improving the supervision system, standardizing information disclosure, creating incentive mechanisms in supervisory activities…
THE IMPACT OF GAMIFICATION FACTOR ON CUSTOMERS’ INTENTION TO USE E-BANKING IN HO CHI MINH CITY
This study aims to evaluate the impact of gamification on the intention to use electronic banking in Ho Chi Minh City, based on the UTAUT2 model and data from 327 customers, in light of the increasing adoption of gamification. The results show that gamification along with other factors positively influence usage intention. The research team proposes management solutions, emphasizing the integration of gamification to enhance user experience and attract customers to use the services.
Capital mobilization of commercial banks in Vietnam: The role of digital transformation
In the digital era, digital transformation has become increasingly critical in reshaping business models, especially in the banking industry. This study explores the relationship between digital transformation and capital mobilization capabilities in Vietnamese commercial banks, using data from 2010 to 2023. The findings reveal that digital transformation not only significantly boosts customer deposit growth but also substantially increases non-deposit funding sources. This demonstrates that digital technology adoption enhances both operational efficiency and capital mobilization flexibility, enabling banks to better meet the financial needs of the economy. The study carries important practical implications, particularly for strategic planning and investment decisions in the banking sector as it navigates through the digital transformation age.
Current status of DIGITAL TRANSFORMATION in VIETNAM COMMERCIAL BANKS
In the current era of technological development, the traditional business model of commercial banks is gradually shifting to digitalized business model. This process is essential to promote sustainable, comprehensive, and continuous development, increase competitiveness and enhance customer engagement. This study employs qualitative methods to assess the current state of digital transformation in Vietnam commercial banks, making a comparison with banks around the world and analyzing challenges as well as opportunities in this process. The authors also propose several solutions and recommendations to accelerate digital transformation process aiming towards a perfect banking ecosystem creating more value for customers and in consistency with global trend.
Current status and development trends of AI in the banking and finance in the world and Vietnam: Some recommendations
Artificial Intelligence (AI) is known as a new technology with great influence in the 21st century; it can change human life like the Internet did. In banking sector, AI has been strongly applied in many processes, products... and according to McKinsey (2023), Generative AI (GenAI) can create annual added value for the global banking industry from USD 200 - 340 billion, equivalent to 9 - 15% increased profit. Financial institutions in Vietnam are also in early stage of adopting AI in the processes of customer care, credit rating, customer authentication... However, the application of AI in terms of cloud - based data warehouses and application programming interfaces (APIs) on a large scale is still in the pilot stage. Moreover, the cost of outsourcing technology services from international companies is often very high. The article tries to explore the experience of AI adoption in the global banking and finance industry and the current status of AI application in the Vietnam banking and finance sector, thereby providing some suggestions and recommendations.
Lending activities of the Joint Stock Commercial Bank for Investment and Development of Vietnam - Current situation and recommendations
This study aims to evaluate the lending activities of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) in the period of 2019-2023. The author uses qualitative and quantitative research methods, statistical and comparative methods, data analysis methods collected from the Reports and Websites of the State Bank of Vietnam (SBV), Business Performance Reports of some commercial banks (CBs), practical research at BIDV and related domestic and foreign studies. Through the research results of BIDV's lending activities, the authors propose a number of solutions and recommendations to improve the quality of BIDV's lending activities in the coming time.
Attracting FDI associated with environmental protection - International experience and lessons for Vietnam
The continuous increase in FDI flow even during COVID-19 period shows the effectiveness in attracting FDI in Vietnam. However, the increasing of CO2 emissions is a warning bell for the relevant authorities in the state management of FDI attraction associated with environmental protection. The role of state management is very important to ensure parallel economic development and environmental control. It is necessary to create an attractive investment environment. From there, management agencies can choose suitable projects from high-quality FDI sources. Some countries in the world have experience in attracting “green” FDI capital. Experience from these countries will help Vietnam reduce the time to perfect policies towards the goal of sustainable economic growth.
Vietnam banking system: Accompanying and sharing difficulties with customers, ensuring benefits for investors, implementing strong digital transformation
From the perspective of sharing difficulties with customers through a series of policy mechanisms, allowing restructuring of debt repayment terms, exemption or reduction of interest and fees, and keeping the debt group intact to the ensuring the rights of investors of bank stocks listed on Vietnamese stock exchanges (HOSE, HNX, Upcom)… all show the silent sacrifice of contributions of the entire Vietnam banking system for their customers since the outbreak of COVID-19 pandemic in 2019, until the sweeping of super typhoon Yagi across the northern provinces and cities in 2024. That silent sacrifice will be analyzed from the perspective of timely promulgation of policy mechanisms to the profit sharing of banks to support customers, helping them minimize costs, gaining confidence in the process of restoring and developing production and business activities... Although it’s difficult to accurately convert into money, we can see the very important role and timely, right, effective monetary policy decisions of the State Bank of Vietnam (SBV) in the macroeconomic stability of our country over the past 5 years.
Vietnam financial market in 2024, outlook for 2025 and some recommendations
In 2024, the global economy was seen growing fairly but unevenly. The US and emerging economies recovered positively. On the contrary, China faced many difficulties due to weak demand, and the Eurozone suffers from prolonged impacts from the conflict in Ukraine. Inflation has generally cooled down in most countries, which is a condition for the central banks to implement loose monetary policies and lower interest rates to support economic growth. In Vietnam, economic growth is considered positive and inflation is well controlled. Although internal as well as external difficulties and challenges still exist, macroeconomic policies are managed flexibly and effectively, helping the financial market to promote its role in supplying capital to the economy: Credit growth reaches its record high since 2018, bad debt ratio is controlled, interest rates for loans are kept low, capital mobilization from the corporate bond market continues positive recovery trend. In 2025, Vietnam's economy will enter a period of acceleration, the financial market is expected to continue to be positive thanks to favorable factors such as: less exchange rate pressure compared to 2024, revised and improved legal framework... The article reviews some key features of the international and Vietnam financial markets in 2024; presenting the outlook of Vietnam's macroeconomic and financial market in 2025, and proposing some recommendations.
The banking sector contributes to bringing the country into a new era
A new era - an era of prosperity and national growth aims at wealthy people, strong country, a socialist society, on par with the great powers of the five continents. The new era is an era of breakthroughs and development in all areas of social life, including the banking sector. The banking sector continues to affirm its role as the lifeblood of the economy and meet the tasks as well as requirements set forth in the new era.
An overview of Vietnam's economic performance in 2024 and 2025 outlook
In 2024, Vietnam’s economy faced many challenges, such as weak recovery of the global economy, monetary policy adjustments in major countries, and low domestic consumption demand. The situation has been exacerbated by natural disasters, particularly Yagi Hurricane, which severely impacted production and livelihoods. Despite these difficulties, Vietnam’s GDP has reached and exceeded target set by the General Assembly. Using secondary data from reputable databases such as the General Statistics Office, State Bank of Vietnam, Widata,... combined with analysis and assessment methods, this paper highlights an overview picture of the economic of Vietnam in 2024, assessing the prospects and challenges for Vietnam’s growth in 2025. Hence, this paper proposes several recommendations and solutions to support promoting Vietnam’s economic growth in 2025.
Preventing money laundering in cryptocurrency transactions in Vietnam
In the context of the emerging of cryptocurrency market and the complexity and sophistication of money laundering crime transactions, improving the effectiveness of anti-money laundering in cryptocurrency transactions in Vietnam becomes extremely important. Through analyzing the exposure of money laundering in cryptocurrency transactions in Vietnam, the study proposes some solutions to prevent money laundering in this field. Solutions include applying strict legal regulations, proposing to join the international anti-money laundering alliance, improving the quality of law enforcement teams, and promoting awareness of the money laundering behaviors, as well as the awareness of reporting crimes of every citizen. The study emphasizes the need to apply integrated and comprehensive measures to ensure safety and transparency in cryptocurrency transactions in Vietnam, thereby controlling cryptocurrency trading activities well.
Promote non-cash payments through the national population database in Vietnam
Non-cash payment is an inevitable trend in the process of socio-economic development in Vietnam. With the development of the national database platform (National Database) on population, non-cash payment has become more feasible and popular than ever thanks to the transparency, efficiency, safety and widespread accessibility of the database platform. The analyzing and connecting the national database on population to develop the application of population data, electronic identification and authentication to serve national digital transformation in the period 2022 - 2025, vision to 2030 of the Government (Project 06) is an important push to create success in promoting the process of non-cash payments limiting the amount of cash in circulation, minimizing social costs, and shortening transaction time to develop digital economy and digital society.
Artificial intelligence with credit scoring models: International experience and several recommendations
Vietnam is not an exception to the way that the future of the global finance business is being shaped by the convergence of big data and artificial intelligence (AI). Financial institutions in Vietnam are putting more emphasis on research and the use of AI in evaluating the creditworthiness of their customers in light of the quickly changing credit market. High efficiency and accuracy in predicting credit risks are promised by AI technology in conjunction with sophisticated machine learning algorithms. By using desk research method, the authors provide a number of suggestions to improve the role of AI in the creation of credit scoring models in Vietnam, based on examining this issue from both theoretical and international experience perspectives.