Hanoi, Feb. 11 -- Prime Minister Pham Minh Chinh asked banks to not just focus on profits but also on contributing to national development while chairing a meeting of permanent Cabinet members and commercial banks in Hanoi on February 11.

The PM recognised the banking sector's role in maintaining economic stability, controlling inflation, and supporting growth while managing public debt and deficits in 2024.

According to the State Bank of Vietnam (SBV), in 2024, the sector played a significant role in completing all the 15 socio-economic target of the country.

Last year, the system saw a 1.24% reduction in lending rates compared to 2023, while maintaining stable foreign exchange and exchange rates. Liquidity in the financial system rem...