In alignment with the guidelines of the Party, the Government and the State Bank of Vietnam (SBV) on the establishment and development of the system of cooperative credit institutions, Co-opBank (formerly the Central People’s Credit Fund) has consistently affirmed its role as the bank for People’s Credit Funds (PCFs). The Bank maintains a close connection with the collective and cooperative economic sector, serving as a positive driving force contributing to microfinance stability, rural economic development, and social welfare.
Mr. Nguyen Quoc Cuong – Chairman of the BoD of Co-opBank delivered a speech at the ceremony celebrating
the 30th anniversary of Co-opBank’s establishment.
A 30-Year Journey of affirming the role as the Bank for PCFs
On June 8, 1995, the Central People’s Credit Fund was established under Decision No. 162/QĐ-NH5 issued by the SBV Governor, with the primary objective of linking and ensuring the safety of the PCF system. This was in accordance with the Party and the State’s orientation towards developing a new-style cooperative model, contributing to poverty alleviation and implementing the national policy on agriculture, rural areas, and farmers.
After its establishment, Co-opBank has continuously improved its organizational structure, expanded its scale, and enhanced the quality of operations, effectively fulfilling the political responsibilities assigned. Notably, the year 2013 marked a significant milestone for Co-opBank with the transition from the Central People’s Credit Fund to Co-opBank, elevating its role as the central institution of the PCF system to a new level.
Looking back on its 30-year development journey, it can be affirmed that Co-opBank has gradually overcome difficulties and continuously strived to affirm its role as an effective tool of the SBV and the central institution supporting nearly 1,200 PCFs to develop in a safe, stable, and sustainable manner.
With a network consisting of the Head Office, 32 branches, and 66 transaction offices; a progressively completed organizational structure; increasingly improved financial capacity and operational quality; and always placing PCFs at the center of all development strategies, Co-opBank has been effectively meeting capital needs for production, business, services, and livelihoods of nearly 2 million members nationwide, contributing to the limitation of “black credit” and promoting local economic development.
In capital intermediation, Co-opBank has established a flexible and efficient mechanism that connects capital flows among PCFs, promptly meeting capital needs by season and by region, thereby improving capital utilization efficiency across the system.
In the field of digital transformation, Co-opBank continues to affirm its role as a reliable pillar for the PCF system. Co-opBank has made strong investments in technology platforms, connecting interbank payment systems to more than 900 PCFs, and offering services such as 24/7 fund transfers, the Co-opBank Mobile Banking app, Co-opBank Napas chip cards, and notably, the first trio of digital foundation products tailored specifically for PCFs, enabling them to quickly adapt to modernization trends.
Co-opBank launched a trio of digital banking products and services exclusively for member PCFs
In 2023, Co-opBank was honored by the World Council of Credit Unions (WOCCU) with the “Digital Transformation Organization of the Year” award, recognizing its efforts in promoting financial inclusion through technology.
As of June 30, 2025, Co-opBank’s total assets reached nearly VND 70 trillion; both capital mobilization and credit lending recorded significant improvements; the non-performing loan (NPL) ratio was only 0.35%, and the NPL coverage ratio reached 258.5% — impressive figures reflecting a strong transformation. Over the past decade, the PCF system, with the support of Co-opBank, has made remarkable progress: the charter capital of PCFs reached VND 8.2 trillion, up 165.2%; total assets exceeded VND 200 trillion, up 156.7%; credit growth increased by 190.5%; deposit mobilization rose by 173.8%, and the NPL ratio stood at just 0.85%.
The achievements of Co-opBank and the PCF system are not only evident in terms of scale, but more importantly, in the quality of support, the role of connectivity, and the overall development outcomes of the entire system.
Mr. Nguyen Quoc Cuong – Chairman of the BoD and Ms. Pham Thi Hong Minh – CEO of Co-opBank presented awards to member PCFs at the ceremony celebrating the 30th anniversary of Co-opBank’s establishment.
Clearly defining its mission and vision for the new development phase, with the right strategy and strong determination, Co-opBank is steadily realizing its goal of becoming a leading bank in community-based microfinance, actively supporting the PCF system. Through these efforts and commitments, Co-opBank will not only contribute to improving the rural financial system but also play an important role in the socio-economic development of the country. With the spirit of “Steady steps to reach far”, Co-opBank will continue to fulfill its role as a bridge between the national financial system and the collective and cooperative economy, firmly asserting its position in building a sustainable banking system that effectively serves members and the people.
Strategic orientation for elevated development
In the coming period, Co-opBank will continue to closely follow the guidance of the Party, the Government, and directives from the SBV Governor in organizing and operating its activities to effectively fulfill its core values and mission. The Bank is committed to ensuring safe and stable development while effectively supporting its member PCFs and customers nationwide. Key strategic focuses include:
Strengthening financial capacity – Building a solid financial foundation enables the Bank to effectively manage capital flows within the PCF system, thereby supporting safe and stable operations across the network.
Developing products and services – The Bank is focused on diversifying financial products and services to meet the practical needs of PCFs and customers.
Enhancing organizational model and human resources – Co-opBank continuously reviews and restructures its organizational system to improve operational efficiency, while also emphasizing the training and development of a highly professional, ethical workforce.
Accelerating technology adoption – Co-opBank is actively investing in IT infrastructure and developing digital banking solutions to deliver fast, secure, and convenient transaction experiences.
Strengthening cooperation – The Bank continues to proactively expand cooperation with both domestic and international financial institutions to learn from management practices, access preferential funding sources, and develop advanced banking models.
