On October 23, 2026, in Lam Dong Province, the Co-operative Bank of Vietnam (Co-opBank) held an Extraordinary Member’s General Meeting (EGM) to approve a plan to increase its charter capital to VND 8,016.812 billion and amendments and supplements to the Co-opBank Charter. These important resolutions will provide additional resources and a stronger legal foundation for Co-opBank to enhance its operational capacity, strengthen its role as the focal bank of the PCF Network, and support the network’s safe and efficient development.
Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank, delivers a speech at the EGM
Attending the EGM, representatives of the State Bank of Vietnam (SBV) included leaders from the Department of Finance and Accounting, the Department of Credit Institution System Safety, the Department of Credit Institution Management and Supervision, and SBV Regional Branch 10.
Representing 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; other members of the Board of Directors; members of the Executive Board; members of the Supervisory Board; the Chief Accountant; heads of units at Co-opBank Head Office; and directors of all 32 Co-opBank branches.
The Extraordinary Member’s General Meeting was also attended by representatives of the leadership of the Vietnam Association of People’s Credit Funds and 140 delegates representing 1,173 member PCFs nationwide.
Strengthening Financial Resources and Enhancing Support for PCFs
The EGM took place as Co-opBank and the PCF Network entered a new phase of development, bringing renewed requirements to strengthen financial capacity, improve governance quality, enhance risk control, and modernize operations. Increasing charter capital is particularly important to Co-opBank’s ability to fulfill its functions and responsibilities, especially its role as the focal bank and central link within the PCF Network.
On August 28, 2026, Co-opBank completed the receipt of VND 5 trillion in State capital support to carry out the procedures for increasing its charter capital. This is an important resource that will enable the bank to strengthen its financial capacity, invest in technological infrastructure, modernize its operations, and enhance its ability to support member PCFs.
In addition to the State capital support, pursuant to Official Letter No. 9503/NHNN-TCKT dated October 14, 2026, issued by the SBV, the Co-opBank’s Board of Directors issued Resolution No. 24/NQ-HĐQT.IV-NHHT dated October 22, 2026, approving an increase in charter capital through contributions from member PCFs totaling VND 16.812 billion.
On this basis, the EGM approved Co-opBank’s new charter capital of VND 8,016.812 billion, comprising VND 7,986.707 billion in State capital support and VND 30.105 billion in contributions from member PCFs.
The Presidium presides over the EGM
In his opening remarks, Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank, emphasized that the bank’s safety, stability, and sustainable development are closely linked to the safety and operational efficiency of PCFs. Throughout more than 31 years of development, Co-opBank has consistently focused on strengthening system-wide linkages, enhancing its capacity to support member institutions, and fulfilling its role as the bank of the PCFs.
The increase in charter capital will provide additional resources for Co-opBank to expand its range of products and services, strengthen capital balancing and liquidity support, and provide operational assistance to member PCFs. It will also provide a foundation for greater investment in technology, improved governance capabilities, and more efficient use of resources in support of the network.
For PCFs, support from Co-opBank is instrumental in strengthening their operations, improving service quality, and meeting the needs of their members and local communities. Accordingly, alongside strengthening its financial resources, Co-opBank is committed to ensuring the safe and efficient use of capital, improving operational quality, and effectively fulfilling its role in connecting and supporting the entire network.
Strengthening the Foundation and Advancing Co-opBank’s role as the Bank of the PCF Network
Alongside the charter capital increase plan, the EGM considered and approved amendments and supplements to the Co-opBank Charter to reflect new legal requirements and address practical operational needs.
These amendments and supplements aim to ensure consistency with current legislation, clarify governance and management powers and responsibilities, and establish an appropriate legal foundation for Co-opBank’s operations in the new phase. The EGM assigned the Board of Directors to incorporate the SBV’s guidance, finalize the Charter, update the new charter capital amount, sign and issue the revised Charter, and report to the General Meeting at its next session. The Board of Directors will also complete the relevant legal procedures in accordance with regulations.
Another key item on the agenda was the implementation of the Scheme on Comprehensive Restructuring of the PCF Network and the Co-operative Bank of Vietnam for the 2026–2030 Period, with a Vision to 2045 (the Scheme). On June 11, 2026, the SBV Governor approved the Scheme and the action plan for its first phase (2026–2030), establishing an important strategic direction for improving operational efficiency, strengthening institutional capacity, and promoting the safe and sustainable development of the network.
Delegates demonstrate strong unity and unanimously approve key Resolutions of the EGM
At the EGM, Mr. Hoang Viet Dung – Deputy Director General of the SBV Department of Credit Institution System Safety, briefed delegates on the Scheme on Comprehensive Restructuring and discussed relevant new policies and legal regulations. These discussions enabled delegates to stay up to date on the strategic direction, objectives, and requirements for Co-opBank and PCFs in implementing the Scheme.
The EGM reaffirmed its commitment to achieving the Scheme’s objectives and tasks, thereby contributing to improved operational efficiency across the entire network. Co-opBank will continue to strengthen its financial capacity, enhance governance and risk management, accelerate digital transformation, and modernize its operations. At the same time, the Bank will ensure the safe and efficient management and use of State capital support, further enhancing its capacity to fulfill its role as the focal bank and strengthen support for member PCFs.
Representatives of SBV, Co-opBank’s leadership, and delegates pose for a commemorative photo at the EGM
In his closing remarks, Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank, affirmed that the General Meeting had completed all items on its agenda in a spirit of seriousness, democracy, and responsibility. The resolutions adopted at the meeting provide a basis for the Board of Directors and the Executive Board to carry out their assigned tasks in the coming period.
The increase in charter capital, revisions to the Co-opBank Charter, and a clear direction for restructuring will strengthen Co-opBank’s financial and institutional capacity and provide a firmer legal foundation for its operations. These developments will enable the Bank to further fulfill its role as the focal bank and central link of the PCF Network, while continuing to support PCFs in strengthening their operations and achieving safe, efficient, and sustainable growth. In doing so, Co-opBank will contribute to the long-term development of Vietnam’s cooperative credit sector.
Mr. Hoang Viet Dung – Deputy Director General of the SBV Department of Credit Institution System Safety, briefs delegates on the Scheme on Comprehensive Restructuring and discusses relevant new policies and legal regulations
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