Solutions to improve business efficiency for Vietnam commercial banks

Abstract

From the beginning of 2020 until now, the world has been heavily affected by 4 consecutive outbreaks of the Covid-19 epidemic. Vietnam is facing the fourth wave of epidemic with unpredictable and complicated developments. Currently, the relevant authorities are studying and advising the Government to submit to the National Assembly for approval a support package (phase 2) with a large enough scale to help businesses and people overcome difficulties, restore production and business, promote economic development. As the lifeblood of the economy, in the current situation, the banking industry has a dual task: both to strive to improve business efficiency for itself, and to enhance its mobilization activities at the same time for meeting cheap capital sources for the business community to develop production and business after the pandemic. Therefore, improving business performance is a top task for the system of commercial banks in Vietnam.