On October 22, 2026, in Lam Dong Province, the Board of Directors of the Co-operative Bank of Vietnam (Co-opBank) held its second meeting of the fourth term to consider and decide on matters within its authority, chaired by Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors.
Attendees included Ms. Pham Thi Hong Minh – Member of the Board of Directors and General Director; other members of the Board of Directors; members of the Executive Board; members of the Supervisory Board; the Chief Accountant; and heads of relevant units at Co-opBank Head Office.
In his opening remarks, Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank, emphasized: “In recent years, the State Bank of Vietnam (SBV) has developed and issued numerous important mechanisms and policies that directly affect the operations and development orientation of Co-opBank and the entire PCF Network, particularly the Scheme on Comprehensive Restructuring of the People’s Credit Fund Network and the Co-operative Bank of Vietnam for the 2026–2030 Period, with a Vision to 2045 (the Scheme). Under the Scheme, Co-opBank is expected to develop into the true ‘Bank of the PCFs’. Co-opBank recognizes this as both a major responsibility and a significant challenge, but also the starting point of a new phase of development. This requires a change in mindset and the proactive mobilization of resources to meet the requirements and fulfill the tasks entrusted to us by the Party, the State, and the SBV.”
Mr. Nguyen Quoc Cuong also noted that, since the first meeting of the Board of Directors for the fourth term, held shortly after Co-opBank’s 2025 General Meeting of Members, the Board of Directors had issued 24 Resolutions and numerous Decisions to approve strategic orientations and address major issues. These provided the basis for the Board of General Directors and specialized units to organize and implement the necessary measures, ensuring Co-opBank’s safe and efficient operations, achieving the highest possible level of its 2026 targets, and fulfilling the objectives set out in the Scheme. Key initiatives included strengthening and enhancing financial capacity through a plan to increase charter capital with contributions from member PCFs and VND 5 trillion in support from the State budget; issuing Co-opBank’s Development Strategy through 2030; issuing the Action Plan for the first phase of the restructuring Scheme (2026–2030); expanding the scope of permitted activities and obtaining a replacement Establishment and Operation License; consolidating the management team, refining the organizational model, and developing human resources; strengthening the internal control system in accordance with Circular No. 62/2025/TT-NHNN; and expanding the operating network.
Speaking at the meeting, Ms. Pham Thi Hong Minh – Member of the Board of Directors and General Director of Co-opBank, shared her views on the difficulties and challenges facing the banking sector in the current context. Ms. Pham Thi Hong Minh also emphasized the need to strengthen Co-opBank’s and the PCF Network’s financial capacity, operational quality, and efficiency. In addition to proactively leveraging internal resources, reducing costs, and improving business performance, Co-opBank must continue to fulfill its role as the focal bank and central link within the Network, accompanying and supporting PCFs in their operations and development.
Regarding implementation of the Scheme, Ms. Pham Thi Hong Minh noted that the relevant mechanisms and policies would continue to be reviewed and refined to better reflect the specific characteristics of Co-opBank and the PCF Network. The General Director of Co-opBank also called on all units across the Network to uphold their sense of responsibility, proactively pursue innovation, strengthen coordination, and remain committed to effectively fulfilling their assigned tasks. These efforts will help enhance operational capacity, ensure the safety and stability of the PCF Network, and promote its sustainable development.
Accordingly, during the first 09 months of 2026, the Board of Directors of Co-opBank continued to direct the full implementation of its responsibilities and duties, while promoting Co-opBank’s role as the focal bank and central link within the PCF Network. Key priorities included capital balancing, liquidity support, the provision of banking and payment products and services, professional training, and operational support for PCFs.
Co-opBank also reviewed and studied amendments and supplements to the Capital Intermediation Regulations, as well as regulations and procedures relating to inspections, supervision, and special lending to PCFs, to ensure they were aligned with actual operating conditions and the Network’s development requirements. In addition, Co-opBank strengthened coordination with SBV and relevant authorities to monitor, support, and promptly address issues arising in PCF operations. It proactively monitored the operational status, liquidity positions, and funding needs of PCFs to ensure timely capital balancing in response to reasonable funding needs, thereby helping safeguard liquidity and maintain the stability of the Network.
Also as part of the meeting, Co-opBank presented commemorative plaques featuring its logo to Board members and Supervisory Board members representing PCFs, as well as leaders of several units, in recognition of their contributions to Co-opBank’s development.
Reporter
