One of the most serious problems facing Vietnamese enterprises, particularly commercial banks is inadequate corporate governance and is a vital issue for companies and banks working within the new WTO framework, an official of the State Bank of Viet Nam (SBV) said at a conference in Ha Noi yesterday.
Director of SBV’s Department for Banking Development Strategies Le Xuan Nghia said that corporate governance is becoming increasingly essential to the Vietnamese banking system, especially in the context of Viet Nam’s bilateral and multilateral commitments towards opening financial services.
"Strong corporate governance will bring enormous benefits to commercial banks, less risks, and more stable development of the market, cutting costs and raising banks’ prestige and bottom line," Nghia said.
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