On March 30–31, 2026, at the Phu Tho Provincial Convention Center, the Co-operative Bank of Vietnam (Co-opBank) solemnly held the 2025 Member’s General Assembly. Mr. Doan Thai Son – Standing Deputy Secretary of the Party Committee and Standing Deputy Governor of the State Bank of Vietnam (SBV) attended and delivered directive remarks at the Assembly.
Attending the Assembly were representatives of the Vietnam Cooperative Alliance; leaders of several units under the SBV; the Vietnam Banks Association; the Vietnam Association of People’s Credit Funds (VAPCF); and delegates representing nearly 1,200 PCFs nationwide.
On behalf of Co-opBank were Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors; Ms. Pham Thi Hong Minh – Member of the Board of Directors and General Director; along with other members of the Board of Directors, the Board of Management, the Supervisory Board, leaders of Head Quarter departments, and Directors of Co-opBank branches.
Mr. Doan Thai Son – Standing Deputy Secretary of the Party Committee and Standing Deputy Governor of the SBV delivered directive remarks at the Assembly
Strengthening the foundation, enhancing governance, and advancing digital transformation
The Board of Directors and the Supervisory Board of Co-opBank for the 2026–2031 term were introduced at the Assembly. Mr. Nguyen Quoc Cuong was re-elected as Chairman of the BoD of Co-opBank.
Delivering the opening remarks at the Assembly, Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank stated that, with the highest determination and sense of responsibility, Co-opBank has proactively and comprehensively implemented a range of flexible, timely, and synchronized solutions across all areas of operation. As a result, the bank successfully implemented its restructuring plan associated with non-performing loan resolution for the 2021–2025 period in accordance with the decisions of the Prime Minister, the SBV Governor, and the Resolution of the Member’s General Assembly, achieving many outstanding results with several key targets exceeding the set plans.
Mr. Nguyen Quoc Cuong affirmed that this Assembly marks a pivotal milestone as the entire system officially enters a new phase of development built upon the solid foundation of core values accumulated over more than 30 years. The Assembly will select and elect qualified and capable individuals with both integrity and competence to the Board of Directors and the Supervisory Board for the fourth term (2026–2031); decide on matters within its authority; and consider and approve major orientations that will serve as the basis for implementing Co-opBank’s activities in 2026 and the years ahead.
Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank delivered remarks at the Assembly
The report presented at the Assembly showed that during the 2021–2026 period, Co-opBank focused on implementing three key priorities: actively participating in the development and improvement of mechanisms and policies; restructuring its organizational model and enhancing governance capacity; and accelerating digital transformation. Notably, Law No. 68/2025/QH15 of the National Assembly on the Management and Investment of State Capital in Enterprises, particularly Article 57, has clarified the mechanisms for investment, support, and management of state capital for Co-opBank, providing a “foundational key” for its roadmap to increase charter capital and strengthen financial capacity in the new development phase.
Alongside the improvement of the legal framework, Co-opBank has carried out organizational restructuring and strengthened governance capacity. The implementation of five rounds of organizational restructuring has helped streamline the governance model, enhance specialization, and clearly separate the functions of “Business – Policy – Risk Management,” gradually aligning with modern banking standards. Over the past five years, Co-opBank has provided professional training to more than 27,000 participants, meeting development needs and improving operational efficiency.
Affirming its central role in driving the development of the PCFs network
Ms. Pham Thi Hong Minh – Member of the Board of Directors and General Director of Co-opBank delivered remarks at the Assembly
In capital balancing operations, Co-opBank has effectively fulfilled its role by applying preferential and flexible interest rate policies, enabling PCFs to proactively manage their funding sources. During the 2021–2025 period, capital balancing deposit turnover reached VND 796,849 billion, while lending to PCFs totaled VND 114,362 billion. As of December 31, 2025, outstanding capital balancing deposits exceeded VND 49 trillion, up 38% compared to 2021; outstanding loans to PCFs increased by 3.90%.
Placing PCFs at the center of digital transformation, Co-opBank has deployed various products tailored for PCFs, thereby strengthening system linkages. Notably, the CF-eBank e-banking system has connected payment services with more than 1,000 PCFs, forming a network of 1,110 transaction points, helping transfer volume increase more than sevenfold and the number of payment accounts rise over 70 times. Co-opBank has also implemented the payment agency model in accordance with Circular No. 07/2024/TT-NHNN and Circular No. 44/2025/TT-NHNN, expanding access to digital financial services.
Co-opBank has also effectively carried out inspection and supervision activities. From 2021 to 2025, the bank inspected 293 PCFs and promptly recommended corrective measures to address shortcomings. Hundreds of Co-opBank staff were seconded to localities with weak PCFs to provide direct support, gradually helping many funds return to normal operations.
The Safety Assurance Fund for the PCFs network (the Safety Fund) has reached total capital of over VND 1 trillion, providing loans to PCFs facing liquidity difficulties, supporting training costs for nearly 5,000 participants from 914 PCFs, and participating in disaster recovery efforts. As the focal point, Co-opBank also mobilized USD 48,000 from the Association of Asian Confederation of Credit Unions (ACCU) network to support PCFs affected by natural disasters and floods.
Co-opBank has coordinated with the Safety Fund and the VAPCF to develop a unified brand identity, contributing to enhancing the overall image of the system. To date, 82 PCFs have installed signage under the new brand identity, and many others have applied it to materials such as leaflets and promotional gifts.
Mr. Doan Thai Son – Standing Deputy Secretary of the Party Committee and Standing Deputy Governor of the SBV presented Certificates of Merit from the SBV Governor to collectives and individuals of Co-opBank
With these efforts, Co-opBank has achieved impressive growth compared to 2021: total capital increased by 39.12%; total outstanding loans rose by 79.44%; profit before tax grew by 51.87%; the non-performing loan ratio declined from 1.14% to 0.34%; and the NPL coverage ratio reached 267.6% in 2025.
These results provide a solid foundation for Co-opBank to enter a new phase of development with five key orientations: continuing to affirm its role as the “bank of all PCFs”; strengthening financial capacity; reinforcing system linkages; accelerating digital transformation; and developing human resources while expanding operations.
Building Co-opBank into a modern, multi-functional, safe, and sustainable bank
Delivering directive remarks at the Assembly, Mr. Doan Thai Son – Standing Deputy Secretary of the Party Committee and Standing Deputy Governor of the SBV – on behalf of the Standing Committee of the Party Committee and the SBV leadership, highly commended the achievements attained by the Board of Directors, the Executive Board, the Supervisory Board, and all staff of Co-opBank in recent years. He acknowledged and highly appreciated Co-opBank’s role as the focal bank for nearly 1,200 PCFs, noting that it has effectively fulfilled its responsibilities in capital balancing, liquidity support, promoting the development of the cooperative economy, contributing to poverty reduction, limiting informal lending, and expanding access to financial services, particularly in agricultural and rural areas.
Mr. Doan Thai Son – Standing Deputy Secretary of the Party Committee and Standing Deputy Governor of the SBV presented Emulation Flags to outstanding collectives within the Co-opBank system
Against the backdrop of a global economy still facing numerous risks, challenges, and uncertainties, and in order to successfully fulfill the assigned political tasks while gradually realizing the goal of developing Co-opBank into a modern, multi-functional, safe, and sustainable institution, Mr. Doan Thai Son – Standing Deputy Governor of the SBV requested the Board of Directors, the Executive Board, and the Supervisory Board of Co-opBank to continue promoting solidarity and responsibility, and to focus on the synchronized and decisive implementation of seven key task groups.
First, to closely follow the policy directions of the SBV, proactively implement business and financial plans for 2026 and subsequent years of the term in compliance with the legal framework and SBV’s directives. Credit growth must be associated with safety and efficiency, prioritizing funding for key sectors and effectively meeting capital needs for production, business, and livelihoods in agricultural and rural areas.
Second, to elevate Co-opBank’s role as the focal institution for the PCF system. This is a core task requiring clear and substantive improvements, particularly in its role as the focal point for implementing the overall restructuring scheme of the PCF system and Co-opBank. It is necessary to further enhance the effectiveness of inspection and supervision of PCFs’ operations to promptly detect and address risks. Close coordination with the Deposit Insurance of Vietnam, the VAPCF, and relevant agencies is required to thoroughly resolve weak PCFs and ensure absolute system safety.
Third, to take the lead in digital transformation. Co-opBank must not only pursue its own digital transformation but also play a leading role in providing payment infrastructure and digital banking services to PCFs. “Bridging the technological gap between urban and rural areas through the PCF network is a critical requirement at this stage,” he emphasized.
Fourth, to strengthen financial capacity and governance. It is necessary to urgently finalize the plan to increase charter capital, continue streamlining the organizational structure, and enhance risk management capacity in line with modern standards. Internal regulations should be reviewed and amended to ensure strict compliance with legal requirements.
Fifth, to uphold discipline and operational compliance. Internal audit and inspection functions must be significantly strengthened. Violations and ethical risks must be proactively detected, prevented, and strictly handled, thereby promoting a transparent and sound banking environment.
Sixth, to place strong emphasis on personnel planning, rotation, and training in order to build a high-quality workforce capable of meeting breakthrough development requirements in the new phase.
Seventh, to thoroughly grasp and strictly implement the directives of the SBV Governor at the recent Conference of State Capital Representatives organized by the SBV. This includes fully exercising the rights and responsibilities of capital representatives in accordance with regulations, enhancing accountability, and ensuring the effective management and utilization of state capital and assets in line with Co-opBank’s performance and the safety of the PCFs network
Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank and Ms. Pham Thi Hong Minh – Member of the Board of Directors and General Director of Co-opBank presented the “Golden Rice” Awards 2025 to PCFs at the Assembly
Standing Deputy Governor Doan Thai Son, on behalf of the Party Committee and the leadership of the SBV, also extended his congratulations to those newly elected by the Assembly to the Board of Directors and the Supervisory Board for the fourth term (2026–2031). “This trust is not only a personal honor, but also a testament to your competence, integrity, and contributions over the past time to the development of Co-opBank and the PCF system. I hope you will continue to strive, build on these strengths, and lead Co-opBank through upcoming challenges toward even stronger development,” he emphasized.
Speaking at the debut of the Board of Directors for the fourth term, Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank – on behalf of the new leadership, expressed sincere appreciation for the attention and direction of the SBV leadership, and affirmed full and comprehensive reception of the directives from Mr. Doan Thai Son – Standing Deputy Secretary of the Party Committee and Standing Deputy Governor of the SBV. “These directions serve as a guiding compass and key orientations for Co-opBank to move forward with a renewed mindset. They will be concretized in Co-opBank’s development strategy for the next five years, with the goals of continuing to affirm its role as the ‘bank of PCFs’; actively supporting the collective economy and cooperatives; and accompanying people in rural and agricultural areas in developing the economy, reducing poverty, and improving quality of life.”
With over 30 years of development, along with the unity and determination of the entire system, Co-opBank will continue to innovate and grow strongly, affirming its role as the focal bank of the PCF system and making positive contributions to the overall development of the banking sector and the country.
Overview of the Assembly
Reporter
