On August 25, 2025, in Lao Cai Province, the Co-operative Bank of Vietnam (Co-opBank) Yen Bai branche held a mid-year Review Conference on the operations of People’s Credit Funds (PCFs) in the first half of 2025 across Lao Cai and Lai Chau provinces.
Attending and directing the Conference were Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank; Mrs. Pham Thi Hong Minh – Member of the Board of Directors, General Director of Co-opBank; Mrs. Nguyen Thi Thu Cuc – Deputy General Director of Co-opBank; Mr. Nguyen Quang Dat – Deputy Director of the State Bank of Vietnam (SBV) Region 4; Mr. Ha Quang – Director of the Northwest Region Branch of the Deposit Insurance of Vietnam; Mr. Do Nhan Dao – Chairman of the Vietnam Cooperative Alliance in Lao Cai Province.
Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank delivered a directive speech at the Conference
Also attending the Conference were representatives of the Co-opBank Supervisory Board; leaders of several units at the Head Quarter; the Management Board and staff of Co-opBank Yen Bai Branch together with representatives from some Northern Co-opBank branches; and leaders of 20 PCFs in Lao Cai and Lai Chau provinces.
The report presented at the Conference showed that as of July 31, 2025, the PCF system in Lao Cai and Lai Chau comprised 20 PCFs with nearly 26,000 members. Total assets reached VND 2,401 billion, of which member loans accounted for VND 1,912 billion, and mobilized funds reached VND 2,080 billion. Notably, the non-performing loan ratio of the entire region stood at just 0.34%, significantly lower than the national average.
Delegates attending the Conference
In recent times, Co-opBank Yen Bai Branch has effectively fulfilled its role as a focal point for system linkage: the total balance of harmonized deposits reached VND 424 billion, while loans to PCFs stood at VND 54 billion. Supervision, risk warning, and advisory support were carried out regularly, with 11 recommendation documents and 7 reports submitted to the SBV.
Alongside financial operations, training has been prioritized: 67 leaders and staff of PCFs participated in training courses on credit, control, and internal audit. In the field of digital transformation, 18 PCFs have already implemented Co-opBank’s CF-eBank electronic banking services, and 16 PCFs have been licensed as Payment Agents for Co-opBank, laying the foundation for modernization and enhancing the system’s competitiveness in the region. In addition, the Branch has actively rolled out digital banking services to PCFs, such as Co-opBank Mobile Banking application, premium-number payment accounts, Alias-identified accounts, payroll entrustment services, online savings, digital banking revenue and profit sharing, and the Co-opSmart application, etc… At the same time, all transaction fees related to digital banking products are being completely waived for PCFs.
Mr. Nguyen Quang Dat – Deputy Director of SBV Region 4 delivered directives at the Conference
In his address, Mr. Nguyen Quang Dat – Deputy Director of SBV Region 4 acknowledged the positive results achieved by Co-opBank Yen Bai Branch and the PCF system in Lao Cai and Lai Chau provinces during the first half of 2025. He emphasized that Co-opBank Yen Bai Branch has successfully fulfilled its tasks together with SBV Region 4 in implementing State management over the PCF system, thereby creating an effective capital channel to support members in developing production and business, making important contributions to poverty reduction, curbing black credit, and improving people’s livelihoods in the area.
Mr. Nguyen Quang Dat stressed that to ensure safe and sustainable development, PCFs need to: strictly comply with the laws and SBV regulations in credit, mobilization, and capital management activities; strengthen governance, administration, and internal control capacity to ensure transparent operations and risk prevention; and pay special attention to staff training, fostering professional competence to meet increasing requirements in the context of integration and digital transformation.
The Deputy Director of SBV Region 4 also requested Co-opBank Yen Bai Branch to continue close coordination with SBV Region 4, further promoting its core role in supporting, advising, and providing financial services to PCFs, while accelerating digital transformation across PCFs to create a solid foundation for effective system operations in line with local socio-economic development.
In his concluding remarks, Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank highly appreciated the efforts and positive outcomes achieved by Co-opBank Yen Bai Branch in the first half of 2025. The Branch has effectively fulfilled its role as a “bridge” between Co-opBank and the PCF system, not only supporting capital intermediation and providing professional advisory services but also accompanying PCFs in implementing new products and services, thereby helping PCFs in Lao Cai and Lai Chau maintain safe and effective operations.
The Chairman also commended PCFs in the two mountainous provinces for overcoming numerous difficulties, making significant efforts in capital mobilization, and providing loans to support production, business, and lawful consumption for members, thereby ensuring credit quality and strengthening community trust.
In order to further build on these achievements, the Chairman of the BoD of Co-opBank directed Co-opBank Yen Bai Branch to focus on three key tasks: First, strengthen system linkage, promote the role of the “common home,” ensure discipline, safe governance, and timely capital support for PCFs, while closely coordinating with SBV Regions 3 and 4 in management, supervision, and risk control to ensure PCFs operate in the right direction, safely, and effectively; Second, further expand modern banking products and services, especially digital services such as electronic payments, Co-opBank mobile banking, and payment agent services, helping PCFs enhance competitiveness; Third, improve the effectiveness of capital intermediation, continue applying flexible and preferential interest rate policies for PCFs to ensure effective mobilization and lending activities suitable to local characteristics.
“Co-opBank will continue to be a reliable anchor, accompanying PCFs in every stage of development. We are committed to working closely with SBV Region 4 to support the PCF system in Lao Cai and Lai Chau to grow safely and effectively, living up to the trust of members and the community,” affirmed the Chairman of the Board of Directors of Co-opBank.
On behalf of the Chairman of the Vietnam Cooperative Alliance, Mr. Do Nhan Dao – Chairman of the VCA of Lao Cai Province presented the Medal “For the Development of the Cooperative Cause” to Mr. Tran Van Van – Director of the Co-opBank Yen Bai Branch
At the Conference, representatives of the PCFs also delivered presentations, shared discussions, and reached consensus on the operational orientation for the second half of 2025. The Co-opBank Yen Bai Branch, together with the PCF system in Lao Cai and Lai Chau provinces, will continue to focus on controlling non-performing loans, accelerating digital transformation, and promoting credit growth in line with capital safety. At the same time, efforts will be made to gradually enhance governance capacity, aiming at sustainable development, contributing to the advancement of the collective economy and the improvement of members’ livelihoods.
Mr. Nguyen Quoc Cuong – Chairman of the BoD of Co-opBank and Ms. Pham Thi Hong Minh – General Director of Co-opBank presented the appointment decision and offered flowers to congratulate Mr. Trinh Thanh Hien – Deputy Director of the Branch – on being entrusted with the position of Acting Director of the Co-opBank Yen Bai Branch.
Also at the Conference, Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors, and Ms. Pham Thi Hong Minh – Member of the Board of Directors, General Director, presented the decision and congratulated Mr. Trinh Thanh Hien – Deputy Director of the Branch – on being entrusted with the role of Acting Director of the Co-opBank Yen Bai Branch.
On the morning of August 25, 2025, the leadership and staff of the Co-opBank Yen Bai Branch also held a warm and solemn farewell program for Mr. Tran Van Van – Director of the Yen Bai Branch as he retired under the State’s regime.
The leadership of Co-opBank presented flowers and commemorative gifts to Mr. Tran Van Van
Speaking at the ceremony, Mr. Nguyen Quoc Cuong – Party Secretary, Chairman of the Board of Directors of Co-opBank – acknowledged and highly appreciated the dedication and enduring contributions of Mr. Tran Van Van throughout his career. He, together with the leadership team and staff of the Co-opBank Yen Bai Branch since its early days, had worked tirelessly to overcome many difficulties, gradually stabilizing the Branch’s operations, ensuring system safety, and becoming a reliable support for the PCFs in the area. Mr. Nguyen Quoc Cuong emphasized: “Although Yen Bai is a mountainous province with many difficulties, the Co-opBank Yen Bai Branch has effectively fulfilled its role of capital intermediation and connection, while actively implementing a wide range of products and services to practically meet the capital and banking service needs of members, thereby contributing to the local socio-economic development.”
The Chairman of the BoD of Co-opBank also expressed his hope that the Yen Bai Branch would continue to uphold its tradition of solidarity and responsibility, inheriting the valuable experience of Mr. Tran Van Van to further strengthen the Branch, closely coordinate with SBV Region 4, and accompany the PCF system in developing safely and sustainably.
In an emotional address, Mr. Tran Van Van extended his sincere gratitude to the SBV, Co-opBank’s leadership, colleagues, and all staff of the Yen Bai Branch for their companionship and support throughout his career. He expressed his pride in being part of and contributing to the development of the Co-opBank system, while firmly believing that the Yen Bai Branch collective will continue to achieve many new successes.
The farewell ceremony took place in a warm and heartfelt atmosphere, reflecting deep respect and appreciation for the contributions of Mr. Tran Van Van, while also inspiring the staff of the Yen Bai Branch to remain united, committed, and strive for further development.
Reporter
