Ensuring safe and effective banking operations

On the afternoon of January 8, the State Bank of Vietnam (SBV) Phu Tho branch held a conference to deploy the banking sector's tasks in 2025.

Conference delegates

According to the report at the conference, in 2024, the Phu Tho Banking sector proactively followed the reality, took advantage of the attention and direction of the Provincial Party Committee, People's Council, Provincial People's Committee and the State Bank of Vietnam, deployed and performed well the advisory function to assist the Governor of the State Bank in state management of currency, credit, foreign exchange and banking activities in the province. Capital mobilization and credit activities in the area achieved positive results.

Total mobilized capital as of December 31, 2024 reached VND 99,945 billion, an increase of VND 11.33 trillion, an increase of 12.82% compared to 2023. Total outstanding debt reached VND 115 trillion, an increase of VND 11 trillion, an increase of 10.7% compared to 2023. Credit quality is guaranteed, bad debt is controlled. By the end of 2024, bad debt (group 3, 4, 5 debt) of the banking system is VND 851 billion, a decrease of VND 14 billion compared to 2023, accounting for 0.73% of total outstanding debt in the whole area.

The provincial branch of the State Bank of Vietnam has directed commercial banks to focus on lending to the agricultural and rural development sector; lending to enterprises for production and business; social housing lending programs, worker housing, renovation and reconstruction of old apartments according to Resolution 33/NQ-CP; Credit program for the Forestry and Aquaculture sectors according to the VND 60,000 billion credit package according to Document No. 7849/NHNN-TD... The credit structure is shifted according to the direction of the State Bank of Vietnam and the economic development orientation of the province.

Actively implementing the Bank - Enterprise Connection Program, commercial banks have proactively approached and resolved difficulties for customers, promptly meeting the production and business needs of people and enterprises. In particular, commercial banks and credit institutions have proactively and urgently reviewed and summarized the damages of customers who are borrowing capital affected by storm No. 3 to promptly apply support measures and resolve difficulties for customers.

In 2025, based on the direction and policy of the State Bank of Vietnam and the socio-economic development orientation of the province, the provincial banking system sets a target of increasing capital mobilization by 10-12%; growth in outstanding loans to the economy by 10-12%; bad debt below 2% of total outstanding loans to the economy. Implement well the state management of monetary and banking in the area, ensuring safe, effective and sustainable development of banking activities.

Speaking at the conference, Director of the State Bank of Vietnam, Phu Tho Province Branch, Pham Truong Giang, emphasized: 2025 is a breakthrough year to achieve the goals of the Resolution of the 19th Phu Tho Provincial Party Congress. Along with closely following the Resolution of the Government, the Directive of the Governor of the State Bank of Vietnam and the direction of the Provincial Party Committee, People's Council and People's Committee of Phu Tho province, the sector will proactively and closely monitor the socio-economic situation to advise and direct, manage and operate the monetary market and banking activities in the area to ensure system safety, contributing significantly to stabilizing the macro economy, stabilizing the monetary market, supporting economic growth, and ensuring social security in Phu Tho province.

To achieve the above goals, the industry will focus on directing banks and credit institutions to closely follow business plans and increase credit growth in line with the socio-economic situation in the area; focus capital on production and business sectors, especially priority sectors and key economic development programs of the province. Direct the implementation of policies to restructure debt repayment terms and maintain debt groups to support customers in difficulty; programs for lending to social housing, workers' housing, renovation and reconstruction of old apartments; credit programs for the forestry and fisheries sectors and key economic programs of the province...

Closely monitor the organization and operation of banks and credit institutions in the area; increase the issuance of warnings and recommendations to prevent risks and ensure system safety. Focus on promoting digital transformation to meet the requirements of innovation in the new situation. Continue to deploy and effectively implement the Project on developing non-cash payments in Vietnam for the period 2021-2025; focus on security and confidentiality in payments. Implement the streamlining of the State Bank's organizational structure under the direction of the Government and the State Bank of Vietnam...

For banks and credit institutions in the area, it is necessary to proactively develop and implement the 2025 business plan in accordance with the direction of the Province, the State Bank and the superior banks, in accordance with the socio-economic situation and operations in the area. Promote capital mobilization; create favorable conditions for people and businesses to access bank credit capital, remove and promote the expansion of consumer credit in parallel with safety and health, contributing to limiting black credit; proactively develop credit programs and product packages with reasonable interest rates; direct credit to production and business sectors, priority sectors and growth drivers of the economy according to the policies of the Government and the province; ensure safe and effective credit activities; continue to strictly control credit in areas with potential risks; promote the program of connecting banks and businesses. Continue to effectively implement the Project on Restructuring the system of credit institutions associated with bad debt settlement in the period of 2021-2025; promote bad debt settlement, improve credit quality, prevent and minimize new bad debts. Promote digital transformation in banking activities and non-cash payment activities, meeting the requirements for new business models and products and services on the basis of information technology, digital banking, digital payment...

Dinh Vu

Source: https://baophutho.vn/dam-bao-hoat-dong-ngan-hang-phat-trien-an-toan-hieu-qua-226100.htm