In the Doi moi liberalisation era, the banking system of Vietnam was reformed. New banks were created, starting with the Industrial and Commercial Bank of Vietnam (VietinBank - now the largest listed bank) and the Vietnam Bank for Agriculture in 1988, and the role of the State Bank was gradually narrowed to that of a central bank.[1] In 1990, an ordinance reorganised the state bank and redefined its function as: "on behalf of the State, of managing money, credit, and banking operations throughout the country in order to stabilize a value of money, and is the only agency with power to circulate the currency of the Socialist Republic of Vietnam"[2] While the State Bank continued to lend to state-owned enterprises in the following years, it has now been largely superseded in the respect by other state-owned banks and by private banks.