In implementing the Scheme on the Comprehensive Restructuring of the People’s Credit Fund (PCF) Network and the Co-operative Bank of Vietnam (Co-opBank) for the 2026–2030 period, with a vision to 2045, the State Bank of Vietnam (SBV) Regional Branch 13 and Co-opBank are strengthening coordination and information sharing, while implementing measures to reorganize, restructure and support PCFs, with the aim of ensuring safer and more efficient operations.
On 8 October 2026, SBV Regional Branch 13 held a working meeting with Co-opBank in Tay Ninh province to discuss the operations of PCFs in the region and coordinate the implementation of the Scheme.
Attending the meeting from SBV Regional Branch 13 were Mr. Pham Minh Tu – Director; Ms. Bui Thi Thuy Hang – Deputy Director; and representatives of its specialized departments.
Representing Co-opBank were Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors; Ms. Pham Thi Hong Minh – Member of the Board of Directors and General Director; other members of the Board of Directors; the Head of the Supervisory Board; representatives of the management of several departments at Co-opBank Head Office; and the management teams of Co-opBank Long An Branch and Tay Ninh Branch.
Implementing the Restructuring Scheme in Line with Local Conditions
As of 30 September 2026, SBV Regional Branch 13 oversaw 69 People’s Credit Funds (PCFs), comprising 36 in Tay Ninh province and 33 in Dong Thap province. Their total assets stood at VND 8.067 trillion, with deposits totaling VND 7.129 trillion and outstanding loans reaching VND 5.618 trillion. Compared with the beginning of the year, total assets declined by 5.1% and deposits decreased by 6.4%, while outstanding loans increased by 1.1%.
In recent months, SBV Regional Branch 13 has coordinated with Co-opBank branches to organize professional training sessions, implement the Restructuring Scheme and hold direct discussions with groups of PCFs. The review has focused on 48 PCFs with overlapping operating areas, including 17 whose head office locations overlap in terms of operating areas, as well as 14 small-scale PCFs.
The review aims to assess the current situation and identify appropriate restructuring and reorganization plans for each PCF, thereby strengthening financial capacity, governance and risk management. This process requires close coordination among the regulatory authorities, Co-opBank and PCFs. Existing difficulties must be thoroughly and objectively assessed to identify suitable solutions that comply with applicable laws and safeguard the legitimate rights and interests of members and depositors.
As the focal bank of the PCF Network, Co-opBank coordinates the provision of funding, liquidity, operational, technological and banking service support within the scope of its functions and responsibilities, contributing to stronger system-wide linkages and improved operational performance across the Network.
Strengthening Coordination and Reinforcing Co-opBank’s Role as the Focal Bank
Speaking at the meeting, Mr. Pham Minh Tu – Director of SBV Regional Branch 13, emphasized the need to strengthen supervision, maintain close oversight of local operations and engage directly with PCFs to promptly identify signs of irregularities. The SBV Regional Director stressed that managers and staff of Co-opBank branches should demonstrate greater responsibility and maintain regular information exchanges rather than relying solely on periodic reports. Designating focal points for ongoing monitoring and coordination would help ensure the early detection and timely resolution of risks.
At the meeting, Ms. Pham Thi Hong Minh – Member of the Board of Directors and General Director of Co-opBank, emphasized the importance of reorganizing and merging PCFs to consolidate resources, improve governance and promote stable, sustainable operations. Ms. Pham Thi Hong Minh noted that Co-opBank branches should coordinate with regulatory authorities to communicate and clearly explain the objectives and significance of the restructuring process, thereby building consensus among stakeholders.
Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank, affirmed that Co-opBank would continue to work closely with SBV Regional Branch 13, reinforcing its role as the focal bank and central institution connecting the PCF Network. Co-opBank stands ready to assign staff to joint working groups when necessary and consider appropriate support measures within its authority and in accordance with applicable laws. Such measures would be based on assessments of the actual situation, the prospects for addressing existing difficulties and specific action plans aimed at controlling risks.
Mr. Nguyen Quoc Cuong also instructed Co-opBank branches to strengthen coordination with SBV Regional Branch 13 throughout the process of reorganizing and merging PCFs, from information sharing and communication to operational reviews, handover procedures and post-merger operations. Any difficulties arising during implementation should be promptly reported so that appropriate solutions can be jointly developed in line with actual conditions.
The meeting contributed to closer coordination between SBV Regional Branch 13 and Co-opBank in implementing the Restructuring Scheme, with the aim of strengthening governance capacity, safeguarding the safety and stability of the PCF Network, and reinforcing the role of the cooperative finance model in providing funding and banking services to members and supporting local economic development.
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