On the morning of April 22, 2026, the Co-operative Bank of Vietnam (Co-opBank) organized the 2026 Conference on People’s Credit Funds (PCFs) operations.
Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank delivered a speech at the Conference
Attending the Conference, on behalf of the State Bank of Vietnam (SBV), was Mr. Hoang Viet Dung – Deputy Director of the Department for Safety of Credit Institutions, along with several leaders and officials from the Department.
On the side of Co-opBank, participants included Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors; Ms. Pham Thi Hong Minh – Member of the Board of Directors and General Director; members of the Board of Directors, the Executive Board, and the Supervisory Board; Directors, Deputy Directors of departments at the Head Office; and Directors and Managers of PCF Departments of 32 Co-opBank branches nationwide.
In her opening remarks, Ms. Pham Thi Hong Minh – Member of the Board of Directors and General Director of Co-opBank noted that in recent times, the SBV has developed and issued a number of important mechanisms and policies related to the PCF system and Co-opBank, particularly the Project on the comprehensive restructuring of the PCF system and Co-opBank for the period 2026–2030, with a vision toward 2045, as well as several new circulars on cooperative credit institutions. Ms. Pham Thi Hong Minh emphasized that these are major and significant contents with direct impacts on the operations and development orientation of the entire system in the coming period. Therefore, the Conference was organized to disseminate the key contents of the Project, thoroughly communicate the action plan across the Co-opBank system, and update new legal regulations so that all units can fully grasp, strictly implement, and ensure consistency and synchronization throughout the system.
Ms. Pham Thi Hong Minh – General Director of Co-opBank delivered a speech at the Conference
At the Conference, participants were presented with the key contents of the draft Project on restructuring the PCF system and Co-opBank for the period 2026–2030, with a vision toward 2045. Accordingly, the restructuring of the system is identified as an inevitable requirement in the new context, aimed at consolidating and rectifying the operations of PCFs in line with their principles and objectives. The Project also sets out orientations to reorganize the system toward a leaner and more efficient model; address weak units; overcome overlapping operational areas; and strengthen system linkages, with Co-opBank playing a central role as the focal point for support, liquidity regulation, and enhancement of governance capacity across the system.
Speaking at the Conference, Mr. Hoang Viet Dung – Deputy Director of the Department for Safety of Credit Institutions under the SBV noted that expanding the operational scope and activities of PCFs is an inevitable trend in the context of administrative restructuring and practical development requirements. However, this process must be strictly controlled through safety limits, particularly lending limits, to mitigate risks, avoid excessive growth, and ensure system stability. At the same time, new orientations will gradually expand the client base of PCFs to include cooperatives and micro, small and medium-sized enterprises; and shift lending practices toward alignment with international standards, reducing reliance on traditional collateral while still ensuring effective risk control. Mr. Hoang Viet Dung also emphasized the requirement to reorganize the PCF system toward a lean and efficient structure, aligned with new administrative boundaries, and reaffirmed the central role of Co-opBank in strengthening linkages, providing support, and enhancing the overall capacity of the system in the coming period.
Mr. Hoang Viet Dung – Deputy Director of the Department for Safety of Credit Institutions (SBV) delivered a speech at the Conference
Speaking at the Conference, Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank, on behalf of the Bank’s leadership, expressed his appreciation to the leadership of the SBV and the Department for Safety of Credit Institutions for their support in developing and refining mechanisms and policies for Co-opBank and the PCF system. Mr. Nguyen Quoc Cuong noted that increasingly well-developed and practical regulations have created an important foundation for the system to grow in a safe and sustainable manner.
Mr. Nguyen Quoc Cuong also highlighted that, in recent years, under the close direction of the SBV and the concerted efforts of the entire system, Co-opBank and PCFs have achieved many positive results, particularly in improving the legal framework, strengthening financial capacity, and gradually affirming their position within the financial system. The development of a dedicated law for cooperative credit institutions will mark a significant milestone, establishing a comprehensive legal framework and opening a new phase of development for the entire system.
At the same time, Mr. Nguyen Quoc Cuong called on units across the Co-opBank system to focus on effectively implementing key tasks, including strictly complying with new regulations and circulars; proactively participating in the formulation and improvement of mechanisms and policies; synchronously implementing the Project on restructuring the PCF system and Co-opBank for the period 2026–2030, with a vision toward 2045; and strengthening risk management, while closely monitoring and proactively responding to emerging situations to ensure safe, stable, and sustainable operations.
Overview of the Conference
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