Implementing Resolution No. 18, in less than the first 3 months of this year, the State Bank of Vietnam (SBV) has basically completed the organizational arrangement, ensuring the right progress and roadmap.

The State Bank has completed the reorganization of 63 provincial and municipal branches of the State Bank into 15 regional State Bank branches. Of which, the State Bank Region 8 includes 3 provinces: Nghe An, Ha Tinh, Quang Binh; its headquarters is located in Ha Tinh.

Previously, the Governor of the State Bank issued decisions on personnel transfer and appointment in Region 8, specifically: Ms. Nguyen Thi Thu Thu, Director of the State Bank of Vietnam, Nghe An province branch, held the position of Deputy Director of the State Bank of Vietnam, Region 8 branch and assigned the position of Acting Director of the State Bank of Vietnam, Region 8 branch.

The Deputy Directors of the State Bank of Vietnam Region 8 include Mr. Luong Hai Luu, Mr. Nguyen Van Trung, and Ms. Hoang Thi Minh Thu.

At the conference announcing the decision to establish and launch the State Bank of Vietnam Region 8 on April 3, Deputy Governor of the State Bank of Vietnam Pham Quang Dung presented the decision to the leadership of the State Bank of Vietnam Region 8 and the heads and deputy heads of departments.

Deputy Minister Pham Quang Dung presented the Decision.jpg
Deputy Governor of the State Bank of Vietnam Pham Quang Dung presents the decision to the Board of Directors of the State Bank of Vietnam Region 8. Photo: Hung Dung.

After the reorganization, the total number of civil servants and employees in Region 8 is 134 people. The organizational structure of the State Bank of Region 8 after the reorganization includes 7 functional departments.

Also on April 3, the State Bank held a Conference on Promoting Bank Credit to Contribute to Economic Growth in Region 8.

At the conference, Deputy Governor of the State Bank of Vietnam Pham Quang Dung said that credit growth in early 2025 showed signs of improvement compared to the same period in 2024, with credit increasing by 2.17% as of March 21 compared to the end of 2024.

According to Ms. Nguyen Thi Thu Thu, Acting Director of the State Bank of Vietnam Region 8, recently, the banking sector has actively promoted credit growth to meet the capital needs for production and business of people and businesses in the region.

By the end of February 2025, capital mobilization in the region reached VND 465,872 billion, an increase of VND 13,027 billion compared to the end of 2024. Of which, capital mobilization in Nghe An, Ha Tinh, and Quang Binh accounted for 60%, 24%, and 16%, respectively.

Interest rates for demand deposits and deposits with terms of less than 1 month in the area are commonly from 0.1-0.5%/year; for terms from 6 months to less than 12 months are commonly at 4.5-5.5%/year; for terms of 12 months or more are commonly at 5-6%/year.

Short-term VND loan interest rates are commonly 5.5-7.5%/year, medium and long-term loans are commonly 8-10%/year. Maximum short-term loan interest rates for some priority sectors are 4%/year.

Region 8 has 253 credit institutions and credit institution branches. By the end of February 2025, outstanding loans of credit institutions in Region 8 reached VND 535,688 billion, an increase of VND 7,957 billion, equal to 1.5% compared to the end of 2024 (including outstanding loans of the Development Bank), accounting for about 33% of the total outstanding loans of the North Central and Central Coast regions.

Source: https://vietnamnet.vn/cong-bo-quyet-dinh-va-ra-mat-nhnn-khu-vuc-8-2387491.html