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Central Bank

State Bank of Vietnam

Address: 47–49 Ly Thai To Street, Trang Tien Ward, Hoan Kiem District, Hanoi, Vietnam


The State Bank of Vietnam (SBV) is the central bank of Vietnam, responsible for implementing monetary policy, supervising financial institutions, managing foreign exchange reserves, and promoting sustainable economic growth in the country. The SBV was established in 1951 as the National Bank of Vietnam, and its name was changed to the State Bank of Vietnam in 1975. Over the years, the SBV has played a critical role in the development of Vietnam's economy, particularly in its transition from a centrally planned to a market-oriented economy.

Mission Statement

The mission of the State Bank of Vietnam is to promote monetary stability, foster a sound and efficient financial system, and contribute to the sustainable development of Vietnam's economy. The SBV aims to achieve these objectives by implementing sound monetary policy, ensuring the safety and soundness of financial institutions, and promoting financial inclusion and economic growth.


The State Bank of Vietnam was established by Decree No. 15/2003/ND-CP of the Government of Vietnam on March 12, 2003. This decree sets out the legal framework for the SBV's operations, including its functions, organization, and governance. The SBV is a state-owned institution, and its governor is appointed by the Prime Minister of Vietnam.

Monetary Policy Aims

The State Bank of Vietnam's primary objective is to maintain price stability and promote sustainable economic growth. To achieve these objectives, the SBV uses a range of monetary policy tools, including setting interest rates, managing the money supply, and regulating credit growth. The SBV also works closely with other government agencies to coordinate macroeconomic policies and promote financial stability.

Issuance of Currency

As the central bank of Vietnam, the State Bank of Vietnam has the sole authority to issue and regulate the circulation of Vietnam's currency, the dong. The SBV is responsible for ensuring the integrity and security of the currency, and for maintaining its value relative to other currencies.

Banker to the Government

The State Bank of Vietnam acts as the government's banker and financial advisor. It manages the government's accounts and handles its financial transactions, and provides advice on fiscal policy and public debt management.

Lender of Last Resort

As the lender of last resort, the State Bank of Vietnam provides emergency liquidity to financial institutions in times of financial stress or crisis. The SBV also has the authority to intervene in the foreign exchange market to maintain the stability of the dong.

Control of Money Supply

The State Bank of Vietnam has the authority to control the money supply in the economy through a range of monetary policy tools, including setting interest rates, managing bank reserves, and regulating credit growth. The SBV aims to maintain a stable and sustainable level of inflation while promoting economic growth.

Control of Counterfeiting

The State Bank of Vietnam is responsible for preventing counterfeiting and other forms of currency fraud. The SBV works closely with law enforcement agencies to investigate and prosecute currency crimes, and implements measures to enhance the security and integrity of the currency.

Regulation and Supervision of Banks

The State Bank of Vietnam is responsible for regulating and supervising financial institutions in Vietnam, including banks, credit institutions, and other financial intermediaries. The SBV sets prudential standards and regulations for these institutions, and monitors their compliance with these standards to ensure their safety and soundness.

Management of Foreign Exchange Reserves

The State Bank of Vietnam manages the country's foreign exchange reserves, which are used to maintain the stability of the dong and support international trade and In addition to its role in monetary policy, the SBV is also responsible for regulating and supervising the banking sector in Vietnam. The bank sets standards for risk management, capital adequacy, and other aspects of banking operations to promote a stable financial system. It also has the authority to issue and revoke banking licenses.

Research and Analysis

One of the key functions of the State Bank of Vietnam is to conduct research and analysis to support the formulation of monetary policies. The bank conducts research on domestic and international economic and financial issues to ensure that policies are based on sound analysis and evidence. This research is used to inform the bank's decisions on interest rates, foreign exchange policies, and credit allocation.

Collection and Dissemination of Statistical Data

The State Bank of Vietnam is also responsible for collecting and disseminating statistical data related to the country's financial sector. This data is used to monitor and analyze economic and financial trends and to inform the bank's policy decisions. The bank collects data on areas such as money supply, credit growth, interest rates, and inflation. The bank also publishes regular reports on these indicators, which are widely used by economists, analysts, and policymakers.

Oversight of Payment and Settlement Systems

Another important responsibility of the State Bank of Vietnam is to oversee the country's payment and settlement systems. The bank ensures that these systems are safe, reliable, and efficient and that they meet international standards. The bank is responsible for regulating payment and settlement services provided by banks, non-bank institutions, and other payment service providers. The bank also collaborates with other central banks and international organizations to promote the development of payment and settlement systems.

Autonomy from Political Control

The State Bank of Vietnam operates independently of the government and other political organizations. This autonomy is essential to ensure that the bank can make policy decisions based on economic and financial considerations rather than political pressures. The bank's governor is appointed by the President of Vietnam and serves a term of five years. The governor is responsible for setting the bank's policy direction, and the bank's decision-making process is guided by a board of directors.


The State Bank of Vietnam plays a crucial role in maintaining financial stability and promoting economic growth in Vietnam. Its responsibilities range from setting monetary policy to regulating the banking sector and managing foreign exchange reserves. The bank operates with a high degree of autonomy and strives to promote a transparent and efficient financial system. The State Bank of Vietnam plays a crucial role in Vietnam's economic development by ensuring the stability of the financial system and regulating monetary policies. The bank's functions and responsibilities include conducting research and analysis, collecting and disseminating statistical data, overseeing payment and settlement systems, and operating independently of political control. As Vietnam continues to grow and develop, the State Bank of Vietnam will continue to play a critical role in ensuring the country's economic stability and prosperity.


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