“Emulation is patriotism, patriotism means emulation”. President Ho Chi Minh’s words remain relevant and enduring at the same time especially for an organization with a mission that the Party, the Government and the State Bank entrust. Co-opBank’s Board of Directors recognizes emulation as a tool and driving force to accelerate the process of restructuring, completing the model to improve operational and financial capacity to support the operation of PCFs to develop safely and sustainably in accordance with the system’s target principles, contributing to enhancing the reputation and position of the PCFs system.
Opening Co-opBank’s 4th Outstanding Labour Conference on July 15, 2020 Co-opBank’s Chairman- Mr. Nguyen Quoc Cuong, said over the past 5 years, its emulation and commendation have been renewed both in content and form, associated with learning and working according to Ho Chi Minh’s ideology, contributing to promoting the strength of the whole system to complete assigned political tasks.
The emulation activities do not only stop at emulation movements launched by the Prime Minister, the Central Committee for Emulation and Commendation, the Governor of the State Bank, but the Party Committee and Co-opBank’s leaders have designed emulation activities for the period 2015-2020 only. Emulation plan is adjusted each year to meet Co-opBank’s development requirements as well as to effectively execute assigned political tasks.
Regular emulation movements have focused on professional areas that are topical, new, difficult, complex in operation; arousing emulation, striving to successfully complete professional tasks among branches: capital mobilization, outstanding loans beyond the plan, improving credit quality…for instance. Or emulation programs that solve urgent problems in improving operations such as capital mobilization programs and promoting deposit savings at Co-opBank, customer services…
In particular, promoting the emulation of scientific research and promoting initiatives … in order to step by step improve the qualifications of Co-opBank staff to successfully complete their tasks.
The effective implementation of emulation movements launched by the Prime Minister, the Governor of the State Bank, such as “The whole country joins hands for the poor – leaving no one behind” is associated with the movement “The whole country joins hands to build a new countryside”, bringing the total outstanding loans of the whole banking system for agricultural and rural development to 60%, contributing to restructuring in agriculture towards increasing employment and income and improving people’s lives.
“The commendation work has focused on the quality, scope and impact level of achievements, and at the same time, focused on rewarding individuals who do not hold the leadership and management positions.” said Nguyen Minh Tuan, Deputy General Director in charge of the Bank’s operation.
Through emulation movements, many excellent teams and individuals have been found to contribute to the development of the unit, deserve praises and awards and be an example for others to follow. Especially in 2018, 2019, Co-opBank gave rewards individuals participating in the management, administration and control of PCFs under special control.
To look back on the period 2015-2019, Co-opBank implemented monetary policy and banking operations, controlling credit quality and efficiency. Along with that, Co-opBank has drastically and effectively implemented the restructuring plan associated with bad debt handling for the 2016-2020 period; developing modern technology infrastructure, promoting new products and services and strongly deploying PCFs to support PCFs’ operations to develop safely and sustainably in accordance with the principles of the target, improving the reputation and position of PCFs system.
Over the past 5 years, Co-opBank’s business performance has increased positively: the income structure, the customer structure has been improved, the organizational model and governance have been completed, operating costs have been controlled effectively. The non-performing loan ratio has always been controlled below 3%, in compliance with legal regulations and safety limits in accordance with SBV regulations. By the end of 2019, Co-opBank’s total capital reached 36,994 billion VND, an increase of 65.24% compared to 2015. Total outstanding loans by the end of 2019 were 24,549 billion VND, an increase of 52.62% compared to 2015 (16,085 billion VND). On-balance sheet non-performing loan ratio was reduced from 1.61% in 2015 to 1.41% in 2019.
In 2020, the world and domestic economy is forecasted to face many potential challenges and risks from trade tensions, natural disasters, epidemics …which will affect banks’ growth as well as profitability. This is also the last year in the 5-year roadmap of implementing the Restructuring Plan associated with the handling of bad debts and preparing a development foundation for a new stage.
Therefore, Co-opBank will continue the emulation and commendation work to encourage all staff to participate in the successful implementation of the strategic goals of the banking system for the period 2016-2020, business performance for 2020 and the annual business plan until 2025 to maintain and develop the Co-opbank brand.
“It can be affirmed that Co-opBank’s emulation movements are very practical and pervasive, an important factor that motivates each individual to strive to fulfill their tasks well, contributing significantly to its development, as well as its positive contributions to the overall performance of the industry. Each team, each individual is has good stories to tell and precious experiences to share with others, and good examples that need to be replicated in the banking sector”, Deputy Governor Nguyen Kim Anh noted and emphasized at the conference.
Recognizing, praising and warmly congratulating Co-opBank’s outstanding staff for their contribution to Co-opBank’s performance as well as creating social trust, enhancing the reputation and position of the banking industry over the years. On behalf of State Bank’s leaders, Deputy Governor Nguyen Kim Anh hopes: “The conference will be a driving force with the transmission power and spread widely throughout the banking system, the spirit of pioneering and responsibility, enthusiasm and even the sacrifice “.
And in order for the emulation work to really become a driving force contributing to the successful implementation of the assigned political tasks in 2020 and the next 2020-2025 period, Deputy Governor Nguyen Kim Anh directed Co-opBank to pay attention and have the responsibility to direct the organization to implement the emulation and commendation work, in which it is necessary to continue to implement the Directive No. 34-CT/TW dated April 7, 2014 of the Politburo on continuing to reform comprehensively the work of emulation and commendation ”.
Deputy Governor Nguyen Kim Anh also suggested that at the same time Co-opBank should focus on educating politics, ideology, morality, behavior for its staff, learning from Ho Chi Minh’s moral example, building the image of a truly dedicated, integrated, responsible so that the people want to trust the reputation of Co-opBank’s Head Office and branches and the whole banking system in general.
The building of emulation movements towards the completion of annual business objectives and plans; strengthening risk management, ensuring liquidity, improving credit quality; diversify banking products and services especially modern technology products and services, in line with the development trend of the digital economy and digital banking; strengthening inspection, control, review of internal processes, regulations, remote monitoring to early warning of potential risks and take handling measures promptly.
The Deputy Governor also requested Co-opBank to continue effectively implementing the patriotic emulation movement of the Government and of the banking sector; focus on building and nurturing outstanding examples to be replicated throughout the industry. At the same time, target for the next period needs to be set higher than that in the previous period in order to be able to select many excellent teams and individuals who deserve emulation titles…
“With the tradition of solidarity, the will to overcome difficulties from all Co-opBank’s staff, I believe that your emulation movement will increasingly replicate more outstanding examples, , gain more achievements, contributing to Co-opBank’s sustainable development and the banking sector’s development as a whole” said the Deputy Governor.
