At a conference on implementing works of the People’s Credit Fund (PCF) in Bac Ninh province in 2022, Mr. Ngo Tan Phuong – Vice Chairman of the Bac Ninh People’s Committee highly appreciated the results of the Co-opBank Bac Ninh branch has achieved in recent years, thereby affirming its role as a bank of PCF system, contributing to improving people’s lives, limiting black credit and promoting economic development in Bac Ninh province. In particular, in 2022, Co-opBank Bac Ninh branch effectively implemented Co-opBank’s instructions, switching from support to comprehensive physical and spiritual care for local PCFs, contributing to support PCFs to improve its capacity to provide capital and services to its members.
Mr. Nguyen Ngoc Thanh – Manager of Co-opBank Bac Ninh branch said that from the beginning of 2022, Co-opBank Bac Ninh branch has implemented the task of following the direction of the Governor of the State Bank of Vietnam (SBV), we have implemented drastic and synchronous solutions to support PCFs in the area, such as performing well the focal role of local PCFs in capital intermediation, liquidity support as well as provision of banking services. Thereby helping PCFs to stabilize their capital sources, gradually promote lending to help local economic development.
In April 2022, in order to strengthen the role of connecting and supporting the PCF system in Bac Ninh province, Co-opBank Bac Ninh branch co-operated with the Safety Fund to organize a conference on implementing works for the PCFs in Bac Ninh province in 2022. At the conference, Co-opBank Bac Ninh branch and PCFs synchronously deployed Co-opBank’s activities to PCFs such as giving priority to meet payment support loans; promote the exploitation of mobilized capital sources, diversify capital mobilization products, ensure the harmony of interests of the PCFs depositing at the branch; especially, synchronously deploying modern payment products and services in the locality. In addition, Co-opBank along with the PCFs and the leader of Bac Ninh province together solved the difficulties and problems in the operation of the PCFs in the area.
Up to now, most PCFs in Bac Ninh province have participated in using Co-opBank’s products and services and many of PCFs use it synchronously. 100% of staffs of PCFs using in products and services of Co-opBank; there have been 5 PCFs paid salaries through Co-opBank’s accounts for employees. Co-opBank Mobile Banking service has also been well received by PCFs’ staff and gradually expanding to members of local PCFs.
For capital adjustment activities, 2022 is also a difficult year when mobilization from PCFs decreased from VND 1,500 billion at the beginning of the year to VND 1,100 billion up to now. The reason is that the PCFs withdraw to lend to members as well as ensure liquidity during the period of high deposits. To ensure safety and liquidity, Bac Ninh Branch has implemented synchronous solutions, from taking initiative in resources to ensure liquidity, meeting the withdrawal requirements of the PCFs, helping local PCFs operate stably, performance ensures absolute safety. At the same time, resources are still available for PCFs to borrow from Co-opBank at lower interest rates than the lending rates for enterprise and individual customers. In addition, products such as overdraft loans, syndicated loans, project loans, and agreement loans have also been synchronously deployed by the Branch. Bac Ninh branch has also continued to carry out the lending program “Joining hands to support PCF members” with low interest rates in order to share difficulties with PCF members in accordance with Co-opBank’s regulations.
Co-opBank Bac Ninh branch’s orientation is moving from support to comprehensive care in material and spiritual for PCFs; not only on training, professional guidance but also on support programs such as interest rate subsidy, interest rate reduction. Moreover, in 2022, Co-opBank Bac Ninh branch organized Sports Festival for local PCFs for the first time. With the participation of 200 participants who are employees from 27 PCFs across Bac Ninh provine, SBV Bac Ninh branch along with Co-opBank head office. Sports activities creating a useful and healthy competition for officials and employees of PCFs system, strengthen the relationship, creating a learning environment and solidarity among units, building more motivation and emulation for officials to excellently complete assigned tasks.
As a commercial bank, Co-opBank Bac Ninh branch has promoted lending to enterprises and individuals. As of November 2022, the branch’s total outstanding loans to enterprises and individual customers reached VND 2,545 billion, up 25% compared to the end of 2021, total bad debt was only 0.28%. The majority of loans were made to agriculture and rural sectors, in which, Bac Ninh branch focuses on small customers and craft villages such as: fine art furniture, iron wares, bamboo craft, clean agricultural model and agricultural support services. Thereby, contributing to the implementation of controlling inflation, stabilizing and supporting the market, promoting economic growth, transforming the economic structure and ensuring the social security of the locality.
Co-opBank’s payment services have initially affirmed their position in the market with 100% of existing customers opening accounts. In 2022, Bac Ninh branch opened Mobile Banking accounts for 11,000 customers, nearly 30% higher than the target assigned, self-selected number for banking account exceeded 10% of the target. Especially, the branch’s Casa capital is in the top of the Co-opBank system.
Raising capital from this customer segment is also one of the Branch’s top focuses. Especially in the year-end period, making good use of this capital channel has helped Bac Ninh Branch successfully mobilize VND 200 billion, bringing the savings mobilized to November 30, 2022 to VND 581 billion and is expected to increase to VND 600 billion at the end of 2022, up 70% compared to the same period last year and nearly 30% compared to the plan assigned.
The efforts of the entire staff of Co-opBank Bac Ninh branch were clearly reflected in the business results with exceeding the financial plan by 120% along with the stable and safe operations of 24 PCFs in the area. This is the premise for the year 2023, along with always focusing on innovation and improving the quality of management, administration, inspection and examination as well as supervision, internal control, accounting – payment, currency – treasury transactions… Co-opBank Bac Ninh branch will continue to develop safely and effectively, supporting the safe and stable of the PCF system, actively contributing to the development goals of Co-opbank system as well as the banking industry of Bac Ninh province.
Some pictures show Co-opbank Bac Ninh branch’s operations:
Mr. Nguyen Quoc Cuong – Chairman of Co-opBank at the Sports Festival of Bac Ninh provincial PCFs in 2022
Mr. Nguyen Ngoc Thanh – Manager of Co-opbank Bac Ninh branch
Co-opBank Bac Ninh Branch head office
Co-opBank Bac Ninh branch’s daily operations
Digital products and services are introduced to customers
Minh Ngọc- Vũ Giáp
