The Co-operative Bank of Vietnam (Co-opBank) Dak Lak Branch has gradually affirmed its position and role as the pillar supporting the People’s Credit Funds (PCFs) in the two provinces of Dak Lak and Dak Nong, while also providing modern banking services to organizations and individuals in its area of operation. With its achievements, Co-opBank Dak Lak Branch has been honored to receive the Third-Class Labor Medal awarded by the State President (2011); the Emulation Flag of the Prime Minister (2010, 2015); and the Emulation Flag of the Governor of the State Bank of Vietnam (2015, 2018)
The Regional Credit Fund of Dak Lak province officially commenced operations on February 12, 1998. This was the predecessor of the current Co-opBank Dak Lak Branch. Following the Party’s policy and with the State’s permission to transform the PCF system, on June 26, 2001, the Chairman of the Board of Directors of the Central PCF signed Decision No. 526/QD-QTDTW to establish the Central PCF Dak Lak Branch. By 2023, the Central PCF Dak Lak Branch had been converted into Co-opBank Dak Lak Branch. Since then, Co-opBank Dak Lak Branch has continuously strived and gradually affirmed its position and role as the pillar supporting the PCF system in the two provinces of Dak Lak and Dak Nong, while also providing modern banking services to organizations and individuals in its operating area.
The leadership and staff of Co-opBank Dak Lak Branch
With the attention, support, and facilitation of Co-opBank, the State Bank of Vietnam branches in Dak Lak and Dak Nong provinces, along with the solidarity and efforts of all officers and employees of Co-opBank Dak Lak Branch, by December 31, 2024, the branch’s scale has significantly increased with total operating capital reaching VND 1,340 billion, capital mobilization of VND 554 billion, and outstanding loans of VND 1,198 billion.
In its role as the bank for PCFs in the area, Co-opBank Dak Lak Branch is managing 15 PCFs in Dak Lak and Dak Nong provinces, with a total of 29,648 members. Total operating capital reached VND 3,212.5 billion, of which deposits from economic organizations and individuals reached VND 2,753.8 billion; total outstanding loans reached VND 2,660.8 billion. The operations of the 15 PCFs in the area remain stable and growing. All PCFs fully comply with SBV regulations, key indicators continue to grow, and they operate profitably; the organizational structures of the funds are relatively stable. In terms of credit quality, 11 out of 15 PCFs have no NPLs; among the 4 PCFs with NPLs, the ratio is very low, accounting for only 0.012% of total outstanding loans. Additionally, the PCFs have completed and are implementing restructuring plans associated with NPL resolution for the 2021-2025 period under Decision No. 689/QD-TTg dated June 8, 2022, by the Prime Minister and directives of the State Bank of Vietnam.
Co-opBank Dak Lak Branch has also implemented comprehensive solutions to support PCFs. Among these, capital harmonization is always a key activity, consistently prioritizing the deposit and borrowing needs of PCFs. By December 31, 2024, PCFs’ deposit balance reached VND 434.3 billion; outstanding loans reached VND 117.4 billion.
In addition, Co-opBank Dak Lak Branch has introduced modern banking products and services of Co-opBank to PCFs such as syndicated lending, reaching VND 24.3 billion across 23 loans; all 15 PCFs in the area participate in Co-opBank’s CF-eBank electronic fund transfer network, with favorable results in payment transactions and safe, accurate transaction processing.
Moreover, the branch regularly develops specialized inspection topics for PCF operations, focusing on inspecting loan utilization and directly verifying borrowing customers. Data verification and safety indicator checks before loan approval are always emphasized. Monthly, the branch conducts remote monitoring of the 15 PCFs, regularly tracking and alerting funds to strengthen capital mobilization and improve liquidity reserve ratios to ensure safety indicators in accordance with SBV regulations and to proactively prepare for unexpected market developments
With the goal of linkage and ensuring safe operations of PCFs, Co-opBank Dak Lak Branch has promptly provided professional and capital support to PCFs whenever additional capital needs arise. In addition, the branch regularly maintains deposit interest rates for PCFs higher than regular savings rates to partly support PCFs in capital mobilization.
Mr. Bui Ke Nguyen – Acting Director of Co-opBank Dak Lak Branch shared: continuing the achievements obtained so far, Co-opBank Dak Lak Branch will continue to promote its strengths, accompany PCFs in Dak Lak and Dak Nong provinces to effectively fulfill its role as the pillar of the PCF system in the area, build the Co-opBank brand image, and contribute to the local socio-economic development.
Co-opBank branch always focuses on supporting PCFs. (Photo: Co-opBank Dak Lak Branch leaders present gifts to Thanh Duc PCF on the occasion of the Lunar New Year of the Snake 2025)
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