The banking system in Vietnam is comprised of a mix of state-owned and privately-owned banks, as well as foreign banks that operate in the country. The State Bank of Vietnam (SBV) is the central bank of Vietnam and is responsible for regulating and supervising the country's banking system.
Over the past few decades, Vietnam has implemented a number of economic reforms, including reforms to its banking system, in an effort to modernize and improve its financial sector. These reforms have included the privatization of state-owned banks, the liberalization of interest rates, and the establishment of a legal and regulatory framework to support the development of the banking system.
As a result of these reforms, the banking system in Vietnam has undergone significant changes and has become more modern and efficient. However, the sector still faces a number of challenges, including high levels of non-performing loans and a lack of transparency in some areas.
Overall, the banking system in Vietnam is still in the process of development and is working to improve its stability and efficiency.