Macroeconomic Factors Influencing the Sustainable Development of Commercial Banks: A Case Study of Vietnam

Abstract

Background: Since the 2008 financial crisis, sustainable development in the banking sector has been a key focus, receiving more attention than before, particularly among bank managers. Sustainable development is a key goal for banks' future development.

Objective: This study examines the macroeconomic factors that influence the sustainable development of commercial banks in Vietnam.

Methodology: Qualitative data and interviews were collected from 15 experts in banking, representing 15 major commercial banks. Through quantitative research, a survey of 600 bank officers in the 10 largest commercial banks in 2024 was conducted, focusing on 6 provinces and cities in the Southeast region. Data were obtained via an online questionnaire and analysed using SPSS 20.0 and Amos.

Result: Research results revealed the seven factors affecting the sustainable development of commercial banks in Vietnam, with a five percent significance level. Seven factors including: (1) Economic growth, (2) Inflation, (3) Interest rate, (4) Exchange rate, (5) Monetary and fiscal policy, (6) Financial capacity, and (7) Digital transformation. Additionally, the authors provided seven policy recommendations to foster the sustainable development of commercial banks.

Conclusion: In a complicated global economy, commercial banks need flexible strategies to adapt to changes in GDP growth, inflation, interest rates, exchange rates, and monetary policy. At the same time, these solutions help commercial banks improve operational efficiency and contribute to Vietnam's long-term economic growth and development.

Unique Contribution: This study provides information for improving  sustainable development in the banking sector theory and practice.

Key Recommendation: The commercial banking system must combine digital technology application solutions to optimise financial policies.