Over nearly 14 years of implementing the restructuring plans under Decision No. 254/QD-TTg dated March 1, 2012; Decision No. 1058/QD-TTg dated July 19, 2017; and Decision No. 689/QD-TTg dated June 8, 2022 by the Prime Minister, the Co-operative Bank of Vietnam (Co-opBank) has made significant and substantive transformations. It has continuously expanded its scale, improved operational quality, effectively fulfilled its assigned political tasks, and ensured safe, stable operations of the People’s Credit Fund (PCF) system. Co-opBank has contributed positively to the banking sector’s achievements in controlling inflation, maintaining macroeconomic stability, and promoting socio-economic growth, particularly in rural and remote areas.
After transitioning from the Central People’s Credit Fund to the Co-opBank model in 2013, Co-opBank has closely followed the Party’s and Government’s policies and the State Bank of Vietnam’s (SBV) guidance. It has seriously implemented restructuring goals and solutions associated with NPL resolution in accordance with approved roadmaps for each phase, aiming to build a sustainably developing Co-opBank, aligned with legal banking safety standards, and ensuring effective, safe future operations. Looking back on nearly 14 years of restructuring and NPL handling, today’s achievements stand as clear evidence of the leadership and staff’s determination and efforts to implement the proposed solutions effectively and successfully. Key restructuring results can be summarized as follows:
On capital and asset scale: perform its capital harmonization role for PCFs, ensuring liquidity for both Co-opBank and PCFs. It has implemented favorable policies and diversified deposit products with flexible terms and methods, enhanced service quality, and expanded its transaction network to attract capital from the PCF system, residents’ savings, and institutional deposits. This has created supplementary funding for member PCF lending expansion, especially serving rural households, cooperatives, and individuals in line with Government policies. Co-opBank’s capital and asset scale has grown toward safety, efficiency, and sustainability. As of December 31, 2024, total assets reached nearly VND 62 trillion (3.5 times higher than in 2013); loan outstanding reached nearly VND 37 trillion (2.7 times higher than in 2013;
On governance, administration, and organizational restructuring, Recognizing the critical role of governance in ensuring stable, safe, and effective operations, Co-opBank has implemented solutions to strengthen governance across its operations, enhancing the role of State capital representatives. It has actively adopted IT and modern governance practices in line with international standards. Notably, during the 2021–2025 restructuring phase, Co-opBank submitted to SBV and gained Member Assembly approval to complete leadership personnel structures, ensuring compliance with legal and charter requirements. It has restructured its Head Office and branches toward streamlined, specialized operations centered on member PCFs and customers; adopted Basel II standards of modern banking; prioritized leadership and management training to improve HR quality; and consistently reviewed, standardized internal policies and processes to ensure legal compliance in all operations;
On NPL resolution and business performance, Co-opBank has enhanced compliance supervision in credit activities, proactively applied systems for monitoring, classifying, and automating debt transfer — a major shift in governance. This improves risk measurement, meets SBV requirements, and enables early identification and handling of at-risk loans, speeding up capital recovery and NPL collection. Co-opBank also closely monitors branch operations to promptly direct and correct issues, control credit quality, enhance business efficiency, and prevent future NPLs.
Fulfilling its role as the bank for PCFs, supporting households and cooperatives in production and livelihoods
Co-opBank continuously strives to fulfill its duties to PCFs, strengthening system linkage through capital harmonization and balancing, developing modern banking products and services for PCFs, and providing effective support in operations, funding, and expertise. It acts as a supervisory tool of the SBV to ensure PCF safety and sustainable development in accordance with the law. Co-opBank also actively allocates capital to lend to SMEs, microenterprises, households, and priority sectors in agriculture and rural areas, contributing to production growth and local economic development;
Co-opBank researches and develops various modern banking products and services PCFs
Developing modern IT and expanding the network
Co-opBank has invested in focused IT modernization, including core banking systems and infrastructure, with resources dedicated to R&D of modern banking products and services for PCFs and customers. This enhances its capacity to meet demands and ensures governance and risk control in all operations.
To effectively serve as the central linkage with member PCFs, Co-opBank has actively and appropriately expanded its branch and transaction office network, improving access to capital and services for PCFs, thereby supporting their stable and sustainable growth. As of now, Co-opBank operates 32 branches and 66 transaction offices in 57 out of 63 provinces and cities, supporting and servicing nearly 1,200 PCFs nationwide.
2025 marks a crucial year, the final year of the 2021–2025 socio-economic development plan, a lead-up to the Party Congress at all levels, and the final year of Co-opBank’s 2021–2025 restructuring and NPL resolution plan. Co-opBank will continue leveraging its achievements, aligning with Party and State policies and SBV directives. It will seriously implement Directive 01/CT-NHNN “On organizing the implementation of key tasks of the banking sector in 2025,” ensuring the success of its restructuring and NPL resolution plan, and laying the foundation for its long-term vision to 2030 — developing into a modern, safe, efficient, and resilient bank based on advanced technology and governance. Co-opBank will effectively perform its role as the bank for PCFs and as an SBV tool for supervision and monitoring, ensuring system safety, stable development, economic growth, poverty reduction, and curbing black credit in rural areas in line with Party and State policies.
Co-opBank actively develops and appropriately expands its network of branches and transaction offices to enhance capital access, provide support and services, and help the PCF system operate stably and develop safely and sustainably
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