Co-opBank Hai Ba Trung branch ensures safe and smooth operations to well serve members, enterprises and people.
The Covid-19 epidemic has spread to a large number of cities and provinces and caused a sharp decrease in the demand for loans at the PCFs. Along with this, the people’s safety mentality has made the demand for savings increased highly and capital in PCFs has increased significantly. Even under that difficult context, Co-opBank Hai Ba Trung branch has still managed to regulate capital to support PCFs to operate stably, promptly provide capital and modern banking services for PCFs, and continues to expand lending activities to non-PCFs members to support the economy.
According to Mr. Bui Tuan Nghia, Deputy Executive Manager- Hai Ba Trung branch, as the focal bank to support and integrate the PCFs system in the area, Hai Ba Trung branch has always provided higher deposit interest rates for PCFs than for business and individual customers. Along with that, the branch has supported local PCFs in raising capital, such as providing specialized vehicles when the PCFs proposed. Thereby, it has brought PCFs more convenience in transferring cash.
The support of PCFs in the current context can be clearly seen in the fact that Hai Ba Trung Branch is always ready to source capital along with policies to support PCFs. As for well-performing PCFs, which need additional capital to operate, the branch has cut the lending interest rate to 6% per year for short-term loans and to 6.5% for medium-term loans. In the context of being affected by the Covid-19 epidemic, compared to the deposit interest rate of only 5.8%/year, that interest reduction has proven how the branch has maximized its support to the PCFs.
Besides, the branch still maintains and takes advantage of the project funds of international organizations with preferential interest rates to support PCFs when needed. For a number of PCFs with financial and payment difficulties, Hai Ba Trung branch has received requests and guided the necessary procedures for PCFs in need to quickly access this capital. Also from 2020, under the authorization of the State Bank and Co-opBank, the branch has also supported timely supply of blank savings books to the PCFs.
Co-opbank Hai Ba Trung branch, has actively supported PCFs participating in the efficient operation of the CF-eBank money transfer payment system, especially under Covid-19 situation and indirect contactless banking operations have been enhanced. 18 local PCFs have received training on money transfer of which, 9 PCfs have joined Co-opBank’s money transfer system. For the PCFs that need re-training, the branch appointed experienced staff to directly participate in supporting the PCFs. All PCFs in the money transfer payment system have been granted overdraft limits to ensure solvency.
In 2020, 1,467 money transfer transactions were facilitated with a total value of, 170 billion VND. Money transfer transactions reached 922 items, an increase of 116.94% compared to 2019, with a total value of 72 billion VND. In the first 5 months of 2021, incoming transaction were 582 with a total of 148.8 billion VND; outgoing transactions were 655 with a total of 93.7 billion VND.
Co-opBank Hai Ba Trung branch has also been performed well by supporting and ensuring the safety of 20 local PCFs. It has provided warning to PCFs which have not complied with safety indicators and supported them to find solutions.
In the role of lending outside the economic support system, in 2020 and 2021, Co-opbank Hai Ba Trung branch has actively sought new customers, lowered lending interest rates and implemented interest rates reduction and excemption for business and individual customers affected by the Covid-19 epidemic, under the direction of the Government and the State Bank. By the end of May 2021, the branch has restructured the repayment term of original debt and interest for customers directly affected by the Covid-19 epidemic with a total principal debt of 17.5 billion VND, interest debt of 1.8 billion VND (according to Circulars 01 and 03). Especially, the Co-lending between the branch and PCFs have helped PCFs to improve their lending capacity to members and their image in the locality. Currently, outstanding co-lending loans have reached 10,298 billion VND.
“Recognizing the impact of the Covid-19 epidemic in the current situation on the production activities of enterprises and people as well as the operation of the PCFs, the branch will continue to apply a flexible and reasonable interest rate mechanism for PCFs that deposit idle capital at Co-opBank for capital regulating in the PCFs system. At the same time, it will well perform lending of regulating capital, lending to agricultural and rural development, co-lending loans and overdraft loans in order to diversify products and services for PCFs”, said Mr. Bui Tuan Nghia, Deputy Executive Manager- Hai Ba Trung branch.
Hai Ba Trung branch will continue to propose training and admission for eligible PCFs to join member the CF-eBank money transfer system; promoting transfer money payment activities to timely support the needs of PCF members. In parallel, it will continue to co-ordinate with other institutions to develop training PCFs’ staff in accordance to Decision No. 1011/QD-NHNN and Decision No. 1012/QD-NHNN dated 23rd May 2017 by the Governor of the SBV.
Currently, Hai Ba Trung branch has been coordinating with the Head Office and experts from the STEP Project to advise PCFs in building their institutional capacity, improving their organizational model and developing new products and services.
