Co-opBank’s Party Committee 2020-2025 was held on the morning of June 26th, 2020
In the term 2015-2020, Co-opBank’s Party Committee has led and implemented its objectives and tasks according to the Resolution of the Party Congress. as well as effectively implementing the Party’s guidelines, the State’s policies and laws, continuing to promote the implementation of restructuring solutions associated with bad debt handling under the Plan approved by the State Bank of Vietnam and focusing on implementing responsibilities and duties for PCFs, affirming the apex role of the network, contributing to the stable, safe and sustainable development of PCFs system.
Those are the summarized evaluation presented at Co-opBank’s 3rd Party Congress, for the term 2020-2025 that took place on June 26th, 2020.
Fulfilling political tasks
Attending and directing the Congress, Member of the Party Committee, Secretary of the Party Committee, Deputy Governor of the State Bank of Vietnam-Mr. Nguyen Kim Anh, highly spoke of the results that Co-opBank has achieved in implementing political tasks in the term 2015-2020.
“Co-opBank has consistently implemented restructuring solutions associated with bad debt handling under the direction of the State Bank and concentrated all resources to perform assigned political tasks for nearly 1,200 member PCFs, supporting in solving difficulties for small and medium enterprises in rural and agricultural areas ”, said Mr. Nguyen Kim Anh.
Specifically, Co-opBank’s Party Committee has drastically directed the rectification and improvement of the PCFs system, promptly handling “alarming PCFs” to ensure local security and the safety of the system. As the focal point of PCFs’ system, Co-opBank has performed well in capital regulation supporting the PCF system’s solvency.
Co-opBank has actively provided capital support to PCFs to enhance lending activities and supporting members. PCFs which face with difficulties in paying deposits to depositors have received timely funding support from Co-opBank, which helps PCFs recover to normal operations. In addition, Co-opBank provides special loans to PCFs under the direction of the State Bank to handle liquidity issues and stabilize the situation..
At the same time, Co-opBank also focuses on performing PCFs’ tasks: It is the focal organization for providing and developing new products and services for PCFs; performing the inspection of PCFs under the direction of the State Bank; actively co-ordinates with State Bank branches cities to support weak PCFs; researching, designing, printing and issuing savings book templates and issuing regulations on provision of savings books for PCFs. Co-opBank has continued to implement international projects to provide financial and technical support to the PCFs system.
In addition, Co-opBank also actively coordinated with SBV branches to support weak PCFs that are under special control in the country, such as: sending more than 20 qualified and experienced staff who have in-depth knowledge to PCFs which are under special control.
Along with proactively operating flexible business operations and focusing on supporting PCFs, Co-opBank continued to expand credit towards safety; promote the development of products and services and strongly deploy to PCFs such as affiliated loans, syndicated loans, electronic money transfer services and debit cards … Co-opBank has been flexible in interest rate management, expand inter-bank transaction limit with other credit institutions, increasing bond trading to add more liquidity reserve for the system. Business results in the years from 2015 to 2020 exceeded the assigned targets.
Co-opBank’s Party Committee also directed the whole system on restructuring and handling bad debts promptly and consistently implement. From 2016 to 2019, Co-opBank’s bad debt was always controlled and maintained at a safe level and the on-balance-sheet bad debt ratio for non-member customers was maintained below 2% of the total outstanding loans. Bad debts were handled in accordance to Resolution 42 and in line with the approved plan and roadmap.
Leading Co-opBank to become a professional and modern organization’
In developing the Party, the Party Committee of Co-opBank has led and directed the implementation of political and ideological work; promptly implemented the Directives and Resolutions of the Central, Party Committees of the Central Agencies and Party Committees of State Bank to officials and Party members in the organization, especially the Central Resolution 4, term XII on strengthening the Party’s development and regulation and Directive 05-CT /TW of the Politburo on promoting Ho Chi Minh’s ideology, morality and style; on the responsibility to set an example as well as the Resolution on enhancing the pioneering and exemplary character of Party members, especially the Party’s secretary, the organization’s leader associated with the assigned functions and tasks and the political mission of the banking sector.
The mobilization and leadership of mass organizations are directed and implemented by the Party Committee in accordance with the actual conditions of the organization. Trade unions and Youth Unions clearly show the core role in movement activities and implementation of grassroots democracy regulations, well organized emulation movements; cultural and sports activities, creating a vibrant atmosphere, improving spiritual life, building solidarity, bonding among comrades, colleagues and between departments and divisions, therefore improving the productivity, quality and efficiency and contributing to the overall achievements of the Co-opBank’s Party Committee.
Speaking highly of the achievement Co-opBank’s Party Committee for the term 2015-2020, Deputy Governor of the State Bank- Mr. Nguyen Kim Anh directed the new Party Committee to overcome the shortcomings and limitations of the old term, at the same time proposing solutions for leadership, directing cadres and Party members to continue to deliver assigned political tasks and Party development in the next term.
On the direction and tasks for the term 2020 – 2025, the Deputy Governor emphasized a number of key task for Co-opBank’s Party Committee of in accordance with the Resolutions and Directives of the Central Committee and the State Bank’s Party Committee.
Accordingly, the new Party Committee should pay attention to leadership, direction and good political and ideological work; focusing on organization and staff, ensure publicity, transparency, selecting the right people for the right positions, create consensus on the basis of work efficiency as the main performance indicator.
Co-opBank’s Party Committee should continue to direct the system to restructure Co-opBank in association with dealing with bad debts according to the Plan approved by the Governor of the State Bank of Vietnam. Defining clearly the political mission of the organization, building a professional and modern Co-opBank to better serve PCFs, fulfulling the role as the “Bank of PCFs”, constantly improving financial capacity, diversifying products and services and ensuring a sustainable development.
“As the central bank of PCFs system, Co-opBank’s activities are not only about supporting and implementing integration, but also improving, reaching and becoming the leading and oriented bank for PCFs”, the Deputy Governor set his expectations.
He also stressed that Co-opBank should proactively implement the contents of its functions and tasks specified in Circular 31, Circular 21 and other Circulars, Directives and other legal documents promulgated by the Statebank that relate to PCFs. These are important contents for the PCFs system to overcome shortcomings and limitations in the organization and integration in the past, contributing to the successful implementation of the restructuring, consolidating and reorganizing the PCFs system in accordance with Decision No. 1058/QD-TTg by the Prime Minister and Decision No. 20 /QD-NHNN by the Governor of the State Bank of Vietnam.
In addition, Co-opBank’s Party Committee should continue to lead and strictly direct the implementation of the Central Resolution 4 term XII on developing and regulating the Party in association with Directive No. 05-CT/TW of the Politburo on further customs of promoting Ho Chi Minh’s ideology, morality and style and the central regulations on the responsibility to set an exa
Effective implementation of Resolutions No. 02, 03, 04-NQ/DUNH dated July 19th, 2017 of the State Bank’s Party Committee on improving the quality of political and ideological education; enhancing the pioneering and exemplary character of cadres and Party members, especially the Party committee’s leaders, and strengthening the leadership of the Party Committee at all levels.
Along with that, breakthrough solutions should be designed and proposed to further improve the quality of Committee and its activities; improve the quality of inspection and supervision of Party members. Leaders of mass organizations operate effectively; actively participate in developing Party organizations to be a strong and comprehensive unit.
“With the tradition and high political determination of the Party Committee, I believe that the Co-opBank’s Party Committee will lead and direct the Party committees at all levels and all officials and Party members to strive successfully for the goals and tasks of the Resolution of the Party Congress of the 2020-2025 term “, the Deputy Governor concluded.
