State Bank Governor Pham Duc An: Stabilizing the interest-rate level, ensuring system safety, and improving credit quality are central tasks in the near term

On the afternoon of April 9, 2026, the State Bank of Vietnam organized a handover ceremony for banking duties between Ms. Nguyen Thi Hong, Vice Chairwoman of the National Assembly and former SBV Governor, and Mr. Pham Duc An, SBV Governor for the 2026–2031 term. The handover took place after the National Assembly completed the reshuffling of SBV leadership. Specifically, on April 6, 2026, the 16th National Assembly elected Nguyen Thi Hong as Vice Chairwoman of the National Assembly; subsequently, on April 8, 2026, the National Assembly approved the appointment of Pham Duc An as SBV Governor for the 2026–2031 term. Speaking at the ceremony, Vice Chairwoman Nguyen Thi Hong stressed that in the previous term the banking sector faced unprecedented difficulties and challenges. However, with unity and solidarity, the entire system strived and achieved important results. Congratulating Mr. Pham Duc An on being entrusted by the Party, the State, the National Assembly, and the Government, she expressed confidence that with his many years of experience in banking and his leadership roles in Quang Ninh and Da Nang, he will play effectively the role of the head of the SBV, together with the leadership team to fulfill the assigned tasks excellently. In his new position, Vice Chairwoman Nguyen Thi Hong said she would continue to accompany the banking sector, implementing the spirit of the National Assembly and Government guidance. At the ceremony, SBV Governor Pham Duc An expressed sincere thanks to party and state leaders, especially the General Secretary, the President, and the Prime Minister for their trust, and appreciated the contributions of Nguyen Thi Hong along with SBV leadership during the past term, particularly during a volatile period, which left valuable lessons for the entire sector. On the time ahead, he emphasized that the domestic and international economic context continues to pose many difficulties and challenges, with rapidly fluctuating and unpredictable factors, setting high requirements for monetary policy management and banking activities. In that context, the banking sector needs to continue strengthening its governance, maintaining macro stability, controlling inflation, and supporting sustainable economic growth. Stabilizing the interest-rate level, ensuring system safety, and improving credit quality are identified as the central tasks. Governor Pham Duc An affirmed that he and the leadership team, along with the entire sector, will promote solidarity, initiative, and flexibility in policy implementation; continue to完善 institutional frameworks, adopt international standards, and enhance transparency, contributing to the efficiency of the banking system and positively to the country’s socio-economic development.