On August 15, 2025, in Da Nang City, the Co-operative Bank of Vietnam (Co-opBank), in coordination with the State Bank of Vietnam (SBV) Region 9, held the “Conference on Reviewing Operations and Implementing Tasks for People’s Credit Funds (PCFs)” within Region 9 (including Hue, Da Nang, and Quang Ngai).
Attending the Conference were Mr. Le Anh Xuan, Party Secretary and Director of SBV Region 9; Deputy Directors of SBV Region 9; Leaders of the Departments of SBV Region 9. On the side of Co-opBank, there were Mr. Nguyen Quoc Cuong, Party Secretary – Chairman of the Board of Directors; Mr. Nguyen Van Giang, Standing Deputy General Director, together with relevant units at the Head Office and the Directors of three Co-opBank branches: Binh Dinh, Gia Lai, and Quang Binh. The event also welcomed representatives of the Deposit Insurance of Vietnam in Da Nang, the Vietnam Association of PCFs (VAPCF), and leaders of 28 PCFs under the management of SBV Region 9.
At the Conference, delegates were presented with a report on the performance of PCFs in the first six months of 2025 under SBV Region 9’s management. After the organizational restructuring of SBV, Region 9 is now responsible for managing 28 PCFs across three provinces: Thua Thien Hue (07 PCFs), Da Nang (03 PCFs), and Quang Ngai (18 PCFs).
In the first half of 2025, the operations of PCFs in the region remained relatively stable; key performance indicators recorded positive growth; regulatory ratios and safety limits were maintained within permissible levels; the ratio of non-performing loans stayed low; the majority of PCFs reported profits; and member development continued to receive attention. The operations of PCFs have increasingly affirmed their role and position as a grassroots credit institution “close to the people,” serving as an effective capital channel, mobilizing idle funds from the community for lending and mutual support. PCFs have played an important role in providing timely capital for members to develop their economy, improve livelihoods, create jobs, and contribute to the building of new rural areas.
Some financial indicators of PCFs as of June 30, 2025, compared with December 31, 2024, are as follows: Membership: 51,099, an increase of 293 members, up 0.58%; Charter capital: VND 98.02 billion, an increase of VND 5.59 billion, up 6.05%; Total assets: VND 2,420.09 billion, an increase of VND 122.82 billion, up 5%; Outstanding loans: VND 1,583 billion, a decrease of VND 39.52 billion, down 2.44%; Mobilized capital: VND 2,209.85 billion, an increase of VND 133.52 billion, up 6.43%.
Particularly regarding system linkage, 100% of PCFs in the region are currently members of the VAPCF. The interconnectedness within the PCF system has been increasingly strengthened through capital intermediation, support in electronic money transfer, and consulting on various operational aspects between Co-opBank and PCFs.
In terms of capital intermediation: temporarily idle funds are deposited by PCFs into Co-opBank, while PCFs borrow from Co-opBank to supplement lending capital for their members. This mechanism has reinforced Co-opBank’s role as the central hub, thereby enhancing system cohesion among PCFs.
In terms of digital transformation, Co-opBank has continued to actively roll out digital banking (E-Banking) services, including 24/7 instant money transfer at counters, mobile top-up and bill payments, train and air ticket payments, and connections with payment channels such as CITAD and BIDV. As of July 31, 2025, a total of 986 PCFs across the system had adopted Co-opBank’s digital banking services, including 18 out of 29 PCFs under SBV Region 9. Among them, 8 out of 28 PCFs have been equipped with POS machines (12 devices in total); the number of Co-opBank Napas chip cards issued to members reached 2,254.
Alongside these achievements, the report also pointed out several shortcomings and limitations at some PCFs that need to be addressed, such as weak infrastructure and operational scale, compliance with internal rules and regulations, lending and capital mobilization practices, reporting and information regimes, and personnel management.
The Conference also heard presentations from representatives of several PCFs, highlighting operational challenges and obstacles they currently face, while proposing solutions to ensure safe, effective, and sustainable development of PCFs.
Speaking at the Conference, Mr. Nguyen Quoc Cuong – Party Secretary and Chairman of the Board of Directors of Co-opBank – affirmed that, as the focal bank for PCFs, Co-opBank will continue to closely follow the directions of the Government and SBV Governor in operations. The bank will concentrate all resources on building Co-opBank into a strong, safe institution that serves as a solid pillar for the PCF system, while also acting as an effective tool of the SBV in managing and supervising PCFs to ensure compliance with legal regulations. At the same time, based on practical operations and the existing legal framework, Co-opBank will study and consider implementing measures suited to the specific conditions of both Co-opBank and the PCF network.
Mr. Nguyen Quoc Cuong emphasized that Co-opBank and the PCF system have now completed a 30-year journey since their establishment. The recent 30th Anniversary Celebration was a milestone highlighting Co-opBank’s relentless growth, an opportunity to look back on achievements, draw valuable lessons, and set future directions. It reaffirmed Co-opBank’s mission and vision toward the PCF network, always recognizing PCFs as the core beneficiaries and central focus of its sustainable and long-term development strategy. Together with PCFs, Co-opBank has been delivering financial services to people in rural and agricultural areas, supporting economic growth, improving livelihoods, curbing informal lending, and contributing to national development.
In order to further support PCFs in Thua Thien Hue, Da Nang, and Quang Ngai as well as Co-opBank branches in operating safely, effectively, and sustainably, Mr. Nguyen Quoc Cuong proposed that SBV Region 9 continue close coordination with Co-opBank and its branches in exchanging and providing information and documents to improve the supervision of PCF operations. He also called for creating favorable conditions for PCFs to participate in Co-opBank’s payment system, considering approval for eligible PCFs to serve as payment agents of Co-opBank to roll out digital banking services to members and customers, supporting PCFs in applying information technology to enhance efficiency and minimize risks, and guiding them in completing legal procedures related to changes in operational content or administrative boundaries in strict compliance with the law.
Co-opBank expressed confidence that, with the attention and support of SBV Region 9, local authorities, and the united efforts of the entire network in effectively carrying out restructuring solutions in tandem with bad debt resolution for the 2021–2025 period, both Co-opBank and PCFs will continue to operate safely, efficiently, and develop sustainably.
In the concluding remarks, Mr. Le Anh Xuan – Party Secretary and Director of SBV Region 9 – expressed appreciation for Mr. Nguyen Quoc Cuong’s contributions regarding PCF operations in the region. He stressed that, going forward, SBV Region 9 and Co-opBank must work even more closely together to overcome challenges and further develop the PCF network in the region in a safe, sound, and effective manner.
For the People’s Credit Funds, Mr. Le Anh Xuan emphasized that PCFs must strengthen internal inspection and supervision to ensure transparent, safe, and properly oriented operations. PCFs are required to strictly comply with corrective documents, warnings, and recommendations stated in the inspection conclusions of the SBV; the recommendations of auditing firms, as well as the findings of Co-opBank and the Deposit Insurance of Vietnam.
In the coming period, the SBV Branch in Region 9 will intensify inspection efforts, focusing on preventing and addressing legal violations in order to safeguard security and stability within the PCF system. It will direct and oversee PCFs in the region to comply with SBV regulations on lending, mobilizing capital, and interest rates; prudential limits and ratios; regulations on debt classification, provisioning, and the use of provisions to handle credit risks, along with other legal requirements.
“In the context of deep integration and increasingly fierce competition, the PCF system risks falling behind if it fails to renew its mindset, enhance capacity, and accelerate digital transformation. Therefore, more than ever, each PCF must clearly define its responsibilities, proactively adapt to circumstances, and take decisive action to strengthen capacity and maintain the trust of members and the community. The SBV Branch in Region 9 will always stand alongside, support, and create favorable conditions for the PCF system to grow sustainably, serving as a sound and effective financial channel for rural areas,” Mr. Le Anh Xuan stressed.
Some photos from the “Conference on Reviewing Operations and Implementing Tasks for PCFs” jointly organized by Co-opBank and the SBV Region 9:
Mr. Nguyen Quoc Cuong – Party Secretary, Chairman of the Board of Directors of Co-opBank spoke at the Conference
Mr. Le Anh Xuan – Party Secretary and Director of the SBV Region 9 delivers the concluding remarks at the Conference
The Presidium of the Conference
Overview of the Conference
