That was the directive of Mr. Nguyen Quoc Cuong, Chairman of the Board of Directors of the Co-operative Bank of Vietnam (Co-opBank), during a working session with Co-opBank Thanh Hoa Branch on October 6, 2025.
Mr. Nguyen Quoc Cuong, Chairman of the BoD of Co-opBank delivered a directive speech at the working session
The working session aimed to review the Thanh Hoa Branch’s performance over the first nine months of the year, address existing challenges in task implementation, and outline key solutions for the final months of 2025. It also marked the announcement of the reappointment decision for Mr. Trinh Huy Thanh as Director of the Thanh Hoa Branch.
The session was attended by Mr. To Hoai Thanh – Co-opBank Deputy General Director; representatives of departments from the Head Office; the Branch’s Board of Management; Heads and Deputy Heads of functional departments and transaction offices along with all key staff members of Co-opBank Thanh Hoa Branch.
Maintaining stability and overcoming challenges for growth
In his report at the working session, Mr. Trinh Huy Thanh – Director of Co-opBank Thanh Hoa Branch stated that during the first nine months of 2025, the branch had made great efforts to overcome various challenges amid the general economic difficulties, particularly interest rate pressures and competition from large credit institutions operating in the province.
As of September 30, 2025, total mobilized capital reached VND 3,337 billion, an increase of VND 476 billion compared to the end of 2024, equivalent to a growth rate of 16.64%. Of this amount, harmonized deposits from People’s Credit Funds (PCFs) reached VND 2,639 billion, up 29.05% and exceeding the assigned plan. This is a highly commendable result, reaffirming the reputation and pivotal role of Co-opBank Thanh Hoa Branch in capital harmonization within the local PCF system.
On the other hand, savings deposits and deposits from economic organizations and individuals continued to face challenges due to competitive pressure from commercial banks. Nevertheless, the branch still achieved 84% of its mobilization target from individual and institutional clients, reflecting significant effort in a highly competitive market environment.
In terms of credit, total outstanding loans reached VND 5,063 billion, an increase of 8.23% compared to the beginning of the year. Notably, outstanding loans outside the system (corporates and individuals) grew by 11.62%, fulfilling 98% of the annual plan. Meanwhile, loans to PCFs and microfinance institutions declined sharply due to their improved capital self-sufficiency and lower borrowing demand.
Non-performing loan (NPL) recovery has remained under strict control. By the end of the third quarter, total NPLs amounted to VND 4.85 billion, accounting for only 0.10% of total outstanding loans – well within the safety threshold. The branch recovered a total of VND 6.975 billion in bad debts and previously written-off loans during the first nine months, demonstrating its strong commitment to maintaining credit quality.
One of the key highlights of Co-opBank Thanh Hoa Branch’s operations has been its active promotion of modern digital banking products for the PCF network.
As of September 2025, 59 out of 64 PCFs in Thanh Hoa province had joined the CF-eBank electronic money transfer system and were updating account balance changes through the CfeBiz platform. At the same time, the Mobile Banking application and overdraft facilities had also been introduced to PCF staff and members, with 10,172 new payment accounts opened and a total balance exceeding VND 30 billion.
In addition, the branch provided overdraft limits to 21 PCFs, amounting to a total of VND 22.5 billion, and extended overdraft facilities to staff members of another 7 PCFs. These flexible and practical solutions have helped PCFs strengthen their liquidity management and better serve their members.
The comprehensive rollout of digital banking services has not only improved operational efficiency within the PCF network but also enhanced Co-opBank’s image as a modern and dynamic bank for the PCF system, thereby increasing its competitiveness against commercial banks operating in the province.
In the final quarter of 2025, Co-opBank Thanh Hoa Branch has adopted the action motto “Acceleration – Efficiency – Partnership with PCFs,” focusing on specific objectives: achieving 100% of the targets for capital mobilization and external loan growth; maintaining the non-performing loan ratio below 0.5% while intensifying recovery of written-off debts; fulfilling financial and digital banking targets assigned by the Head Office; ensuring effective capital harmonization within the PCF network and timely liquidity support for PCFs; expanding the rollout of digital banking products and services to PCFs; and enhancing communication and promotion of Co-opBank’s and PCFs’ brand image, role, and activities.
The branch considers these tasks as continuous core priorities and will carry out both annual and ad-hoc reward programs to promptly recognize PCFs that successfully meet Co-opBank’s key performance initiatives, such as implementing digital banking products and capital harmonization activities. It will also coordinate closely with the Head Office, the Vietnam PCF Association, and the regional State Bank of Vietnam (SBV) in organizing professional training programs to enhance PCFs’ banking expertise, while regularly updating and disseminating relevant regulations and guidelines to ensure safe, efficient, and law-abiding operations across the PCF network.
Promoting sustainable credit growth and maintaining a leading position in the system
At the meeting, Mr. Nguyen Quoc Cuong – Chairman of the BoD of Co-opBank emphasized that Co-opBank Thanh Hoa Branch needs to continue strengthening its governance and management capacity, promote a proactive and responsible spirit, and review all business indicators while accelerating the implementation of key tasks in the fourth quarter of 2025, striving to fully accomplish the assigned financial targets.
The Chairman outlined several key directives as follows: First, conduct a comprehensive review of the entire credit portfolio, assess the quality of each credit facility, closely monitor customers’ business performance, repayment capacity, and cash flows to identify early signs of risk, take proactive preventive measures, and promptly address issues to minimize the occurrence of non-performing loans.
Second, intensify efforts in handling and recovering bad debts as well as debts previously written off, considering this a critical task to strengthen financial capacity and ensure operational safety. At the same time, enhance internal control, credit supervision, and compliance with operational procedures.
Third, promote credit growth in tandem with improving credit quality; avoid pursuing growth targets at the expense of safety. Sustainable and prudent credit development will serve as a solid foundation for growth plans in 2026 and beyond.
Fourth, reinforce the branch’s role as a capital coordination hub in the province, ensuring timely and effective liquidity support for the network of PCFs, especially toward year-end when capital demand and liquidity pressure typically increase.
Fifth, accelerate comprehensive digital transformation across the branch’s operations and the PCF network, enhance digital capabilities and readiness for digital transformation among PCFs, thereby strengthening competitiveness, safety, and operational efficiency across the system.
Sixth, strengthen the branch’s role as a focal point in coordinating and exchanging information with the SBV Regional Branch VII and local regulatory authorities, proactively update new regulatory directions and policies, and promptly report any difficulties or obstacles encountered during implementation for timely guidance and resolution aligned with actual conditions.
Also, within the framework of the meeting, Co-opBank held a ceremony to announce the decision to reappoint Mr. Trinh Huy Thanh as Director of Co-opBank Thanh Hoa Branch.
Mr. Nguyen Quoc Cuong, Chairman of the BoD of Co-opBank presented the Decision and congratulated Mr. Trinh Huy Thanh on his reappointment as Director of Co-opBank Thanh Hoa Branch.
Speaking at the ceremony, Mr. Nguyen Quoc Cuong, Chairman of the BoD of Co-opBank congratulated Mr. Trinh Huy Thanh on continuing to earn the trust of the Bank’s leadership and being entrusted with an important responsibility in this new stage of development. He also expressed his expectations: “With a united, dynamic, and responsible team under the leadership of the Branch Director, Co-opBank Thanh Hoa Branch will continue to maintain stability, excel in fulfilling its assigned tasks, and make positive contributions to the sustainable development of the Co-opBank system.”
Mr. Trinh Huy Thanh – Director of Co-opBank Thanh Hoa Branch delivered a speech at the ceremony
The leaders and staff of Co-opBank Thanh Hoa Branch took a commemorative photo at the ceremony
In response to the trust by Co-opBank’s Board of Management, Mr. Trinh Huy Thanh pledged to continue working with the collective team of Co-opBank Thanh Hoa Branch to foster unity, innovate management approaches, enhance service efficiency, expand modern banking services, maintain the branch’s leading position within the system, and gradually elevate Co-opBank’s image in the region.
An overview of the Ceremony Announcing the Reappointment of the Director of Co-opBank Thanh Hoa Branch
The working session concluded in an atmosphere of responsibility and strong determination. With clear directions from the Board of Directors, the branch’s spirit of innovation, and the close coordination of local PCFs, Co-opBank Thanh Hoa Branch is expected to remain a reliable financial pillar for the agriculture and rural sector, contributing to local socio-economic development and affirming Co-opBank’s position in Vietnam’s financial market.
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