On October 11, 2025, in Hai Phong City, the State Bank of Vietnam (SBV) Region 6, in collaboration with the Co-operative Bank of Vietnam (Co-opBank), held a conference to review the performance of People’s Credit Funds (PCFs) in the first nine months of the year and undertake directions and tasks for the remaining three months of 2025. The event also included the signing ceremony of a Coordination Regulation between SBV Region 6, Co-opBank, and the Deposit Insurance of Vietnam (DIV) Northeast Branch on supervising the operations of PCFs in Hai Phong City and Quang Ninh Province.
Attending and directing the conference were Ms. Nguyen Thi Dung – Acting director of SBV Region 6; Ms. Nguyen Thi Thanh Binh – Deputy director of SBV Region 6; Mr. Nguyen Duc Hien – Deputy director of SBV Region 6; Mr. Mai Viet Trung – Deputy director of SBV Region 6; Mr. Nguyen Thac Tam – Deputy general director of Co-opBank; and Mr. Luong Tran Chung – Director of DIV Northeast Regional Branch.
During the event, there is also the participation of representatives from the Inspection and Supervision Division 2 of SBV Region 6, representatives from Co-opBank’s Head Office, leaders and officers of Co-opBank branches in Hai Phong and Hai Duong, along with representatives from 99 PCFs in Hai Phong city and Quang Ninh province.
Ms. Nguyen Thi Dung – Acting director of SBV region 6 delivered a keynote address at the Conference
Ensure network stability and operational safety
Reporting at the conference, representatives of the SBV region 6 stated that as of September 30, 2025, the region had 99 PCFs with a total of 155,358 members. Most PCFs are operating stably, safely, and in compliance with legal regulations.
Total operating capital reached VND 21,198 billion, an increase of 8.29% compared to the end of 2024, averaging VND 214.1 billion per fund. Of this, mobilized capital accounted for VND 19,342 billion, representing 91.2% of total capital, clearly reflecting the PCF network’s role in mobilizing local financial resources to support economic development in the region.
Outstanding loans amounted to VND 13,240 billion, or 62.5% of total capital, with a low bad debt ratio of 0.37%, slightly increased compared to the same period last year. The PCFs have maintained safe operations, ensured liquidity, and focused credit line toward production and business activities, with prioritize on agriculture and rural sectors.
These figures indicate that the PCF network in region 6 continues to sustain positive growth momentum, with increasing scale and operational efficiency.
In terms of management and supervision, SBV region 6 has continued to implement comprehensive and decisive measures. In the first nine months of 2025, the branch issued 65 directives and administrative documents to guide and strengthen PCF operations — focusing on network safety, implementation of the PCF Development Project to 2030, supervision of underperforming PCFs, and enhanced risk control.
Additionally, SBV Region 6 conducted on-site inspections at 04 units, issued seven warning documents, and closely coordinated with local authorities and Co-opBank in management and oversight. Notably, the region successfully piloted an Information System for PCF supervision, contributing to greater modernization and transparency in operations.
Co-opBank affirmed its core role as the central link and a pioneer in modernizing PCFs
Speaking at the conference, Mr. Nguyen Thac Tam, Co-opBank Deputy general director emphasized: “Co-opBank is not only the bank of PCFs, but also the central hub for capital harmonization, and a financial, technological and managerial spine that enables PCFs to develop safely, efficiently, and sustainably. We are committed to accompanying the PCF network not through slogans, but through concrete actions and long-term strategies.”
Mr. Nguyen Thac Tam – Deputy general director of Co-opBank delivered his remarks at the conference
During the first nine months of 2025, Co-opBank strengthened liquidity support for the network, ensuring timely capital provision, interest rate favorable, supervision, and professional consultancy to help PCFs operate more safely and efficiently. The bank also expanded its credit packages to support agricultural and rural production and business, enabling thousands of households and cooperatives to access stable financial resources.
In parallel, Co-opBank has been accelerating technological infrastructure development, upgrading its centralized CoreBanking system, and integrating data across the entire network. The Bank continues to advance digital transformation, helping PCFs gradually adopt modern banking technology, while introducing digital financial services including payment solutions, online savings, and eKYC — enabling PCFs to diversify their services and enhance competitiveness. Additionally, Co-opBank has been conducting in-depth training programs for PCF staff, in collaboration with banking academies, to strengthen governance capacity, risk management, and compliance with new regulations issued by the SBV.
Mr. Nguyen Thac Tam – Co-opBank Deputy general director: “The development strategy of Co-opBank in the coming period is to consolidate its position as the bank of PCFs, serving as the nucleus of the PCF network, and gradually build a strong, transparent, and competitive cooperative financial network capable of adapting to digital transformation. We are committed to accompanying the SBV, local authorities, and PCFs in consolidating network safety, supporting the restructuring of weak PCFs, and moving toward the goals of sustainable, secure, and truly cooperative development.”
In addition, Co-opBank also proposed that the SBV region 6 continue to strengthen the coordination mechanism with Co-opBank; at the same time, encourage PCFs to proactively participate in digitalization programs and service linkages to create a stronger network.
The Deputy general director of Co-opBank affirmed: “Co-opBank will not only accompany but also lead the PCF network along the route of digital transformation, modern governance, and sustainable development. This is the inevitable direction for the PCF network to continue asserting its pivotal role in the national financial inclusion strategy.”
Continuing to strengthen safety foundations and fostering development in line with cooperative principles
Delivering the closing remarks at the conference, Ms. Nguyen Thi Dung – Acting director of the SBV Region 6, acknowledged and highly appreciated the efforts of the PCF network over the first nine months of 2025, particularly the active cooperation of Co-opBank branches in capital intermediation, liquidity support, banking service provision, and capacity-building training for PCFs. The achieved results are creditable, clearly reflecting the solidarity, determination, and perseverance of both the PCFs and Co-opBank amid ongoing challenges and difficulties.
However, despite these positive outcomes, there remain several issues that need prompt rectification. Some PCFs still face limitations in governance and management capacity; the quality of staff remains uneven; and compliance with safety regulations in vault management, fund transfers, and IT operations is still inadequate in certain units.
However, despite achieved outcomes, there remain several issues that need prompt rectification. Some PCFs still face limitations in governance and management capacity; the quality of staff remains uneven; and compliance with safety regulations in vault management, fund transfers, and IT operations is still inadequate in certain units.
The Acting director of the SBV region 6 requested PCFs to strictly comply with legal regulations, strengthen risk management, and ensure full adherence to safety standards regarding operations, cash vaults, fund transfers, and IT applications in management and operations. She also called on Co-opBank branches and the DIV Northeast region branch to continue close coordination with the SBV Region 6 in guiding, supervising, and providing technical assistance to PCFs, ensuring all activities are carried out properly, transparently, and safely
In particular, Ms. Nguyen Thi Dung emphasized the crucial role of active engagement by local Party committees and authorities in managing, monitoring, and supporting PCFs since this cooperative economic model is unique and closely linked to local communities. Effective coordination among local authorities, the State Bank, Co-opBank, and DIV will help PCFs operate in line with their cooperative principles, promote mutual support among members, curb informal lending, and foster sustainable rural economic development.
The Acting director also requested PCFs to prepare for their upcoming term of personnel restructuring, build training and development plans, and enhance leadership and operational quality toward greater professionalism and efficiency.
“In this new context, every PCF must proactively innovate its mindset, comply with the law, strengthen its financial capacity, and build closer relation with Co-opBank, local authorities, and members in order to jointly develop a safe, sustainable, and truly cooperative PCF network across region 6,” stated Ms. Nguyen Thi Dung, Acting director of the SBV Region 6.
An overview of the signing ceremony of the coordination regulation between SBV region 6, Co-opBank, and the DIV Northeast Region Branch on supervising the operations of PCFs in Hai Phong city and Quang Ninh province
Leaders of SBV region 6 and Co-opBank took a commemorative photo with Co-opBank Hai Phong branch and Co-opBank Hai Duong branch on the sidelines of the conference
Notably, at the Conference reviewing the performance of PCFs in the first nine months and setting directions for the remaining three months of 2025, a signing ceremony was held for the regulation on coordination between SBV Region 6, Co-opBank, and the Deposit Insurance of Vietnam Northeast branch regarding the supervision of PCF operations in Hai Phong city and Quang Ninh province. The regulation stipulates the principles, scope, contents, and methods of coordination in exchanging and providing information on PCFs under the management area of SBV region 6, Co-opBank, and DIV. It aims to enhance accountability and cooperation among the parties to effectively fulfill their assigned functions and responsibilities, proactively prevent and thoroughly handle legal violations, ensure operational safety, and firmly strengthen the PCF network in line with the directives of the Prime Minister and the Governor of State Bank of Vietnam.
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