Vietnamese banks are stepping up plans to expand their markets globally instead of just focusing on the Indochina region.
The banking system and operations of credit institutions are the "lifeblood" of the nation's economy, according to an official.
The State Bank of Việt Nam (SBV) has urged credit institutions to ensure adequate funds to meet the capital demands of rice exporters for the winter-spring crop this year.
Most banks will not officially set their annual targets until their shareholder meetings in April, but many bank leaders are optimistic about 2019 with plans to increase profits through cutting operating costs and promoting digital services.
Despite the central bank’s tightened monetary policy, many banks reported good business performance last year thanks to improved bad debt resolution and rising income from services.
Việt Nam’s benchmark VN Index almost fell on Thursday as banks started to decline following recent gains and on caution after trade talks between China and the US.
On Wednesday, four State-owned banks said they would cut interest rates on dong loans in the Government’s priority sectors to support firms in 2019, starting from Thursday.
Vietcombank and Vietnam Railways (VNR) on Thursday signed a comprehensive strategic co-operation agreement in Hà Nội, marking an important step in the development of their relationship.