As the state management agency for currency, credit and banking in the area, in 2024, the State Bank of Vietnam, Phu Tho branch, proactively and resolutely directed and operated currency, credit and banking activities, together with the system of credit institutions (CIs) in the province to support and promote economic growth... Thereby, actively contributing to the implementation of the political tasks of the industry, promoting the vital role, and actively contributing to the socio-economic development of the province.
Banking activities contribute positively to the socio-economic development of the locality.
Restore production and business activities
Since the beginning of 2024, closely following the direction of the Government, the Prime Minister, the State Bank of Vietnam (SBV) and the local socio-economic development situation, the Phu Tho banking sector has had many appropriate and timely solutions to reduce interest rates and create favorable conditions for people and businesses to access credit capital, contributing to removing difficulties for production and business, supporting economic growth recovery and ensuring the safe development of the credit institution system.
Along with focusing on solutions to expand credit investment along with strengthening credit quality management, the whole industry also implemented many key credit programs such as: Lending for agricultural and rural development with outstanding loans of more than VND 41,000 billion for 252,840 customers, accounting for 35.7% of total outstanding loans in the area; lending to businesses in the area with the number of businesses disbursed in 2024, being 863 businesses, the loan amount is over VND 52,000 billion, accounting for 29.14% of total outstanding loans in the whole area, of which loans under the bank-business connection program reached over VND 14,600 billion, an increase of nearly VND 2,300 billion (up 33.46%) compared to 2023...
Accompanying and sharing difficulties with borrowers is also one of the key tasks that credit institutions have focused on implementing in the past time. In 2024, along with many localities across the country, Phu Tho was a province heavily affected by storm No. 3 (Yagi) and post-storm floods. Implementing the direction of the State Bank of Vietnam, the State Bank of Vietnam Provincial Branch proactively grasped the situation and directed credit institutions in the area to focus on reviewing and synthesizing the damage of borrowers, and at the same time advised the Provincial People's Committee to issue a directive document on organizing the implementation of banking solutions to help people and businesses facing difficulties due to the impact of storm No. 3 to restore and promote production, business and economic development.
According to statistics, the whole province has 1,264 customers affected by storm No. 3 with outstanding debt of VND870 billion. Based on the assessment of the level of damage, up to now, credit institutions have restructured the repayment period for 114 customers with outstanding debt of VND7.6 billion; exempted and reduced interest rates for 375 customers with outstanding debt of VND1,361 billion; provided new loans to 606 customers; reduced interest rates for VND1,578 billion of outstanding debt, the cumulative amount of reduced interest is VND1.6 billion.
Previously, in order to support customers facing difficulties according to Circular No. 02/2023/TT-NHNN and Circular No. 06/2024/TT-NHNN amended, credit institutions in the area actively implemented policies to remove difficulties, restructure debt repayment terms, maintain debt groups, reduce lending interest rates and simplify administrative procedures for 173 customers with a total debt value of VND 1,014 billion (of which VND 954 billion is principal debt and VND 60 billion is interest debt).
In line with the province's socio-economic development program, the provincial branch of the State Bank also directed local credit institutions to effectively implement the credit program for the forestry and fishery sectors under the Government's VND60,000 billion credit package. Up to now, the committed loan amount under the credit contract has reached over VND754 billion, the cumulative disbursement turnover since the beginning of the program has reached VND446,800 million, with 681 customers receiving disbursements; outstanding loans have reached VND217,056 million for individuals and households. Along with that, credit institutions have also actively implemented interest rate support for social housing, workers' housing, renovation and reconstruction of old apartments according to Resolution 33/NQ-CP. During the year, BIDV Hung Vuong branch signed a credit contract to finance the low-rise social housing project of Minh Phuong Social Housing Company Limited with an amount of VND 95 billion, the amount disbursed was VND 80.3 billion, reaching 85% of the signed value.
Officials of the Yen Lap District Social Policy Bank and leaders of Minh Hoa Commune (Yen Lap District) inspected the effectiveness of using capital to support production development at households.
Pioneer in digital transformation
With a consistent and consistent viewpoint of "taking customers as the center and convenience and convenience for service users as a measure of efficiency", in 2024, Phu Tho banking industry has proactively and made efforts to carry out comprehensive digital transformation in many aspects. Implementing the Project on developing Non-Cash Payment (TTKDTM) for the period 2021-2025, in Phu Tho province and Decision 2345/QD-NHNN of the State Bank of Vietnam on safe and secure solutions in online payment and bank card payment using biometric authentication, the provincial branch of the State Bank has directed bank branches and credit institutions to actively and proactively deploy technology application solutions and digital transformation into credit granting processes such as disbursement via the App, via the Bank's website to shorten administrative procedures and shorten lending processes and procedures.
Along with that, the industry resolutely directed the implementation of the tasks of Project 06 (Decision No. 06/QD-TTg of the Prime Minister dated January 6, 2022 approving the Project on developing population data applications, electronic identification and authentication to serve national digital transformation in the period 2022-2025, with a vision to 2030).
With the goal of developing a modern payment infrastructure that operates safely, effectively and is capable of connecting and integrating with other systems, the State Bank of Vietnam’s provincial branches have directed banks and credit institutions to continue to build and upgrade technical infrastructure, standardize databases to connect and share information with payment service providers and payment intermediaries serving e-commerce. Banks and credit institutions have launched many modern, friendly and convenient products and services, especially payment utilities on mobile devices such as QR codes, card information encryption, contactless payments, internet banking, mobile banking, payment of electricity, water, public services... to meet the needs, bring practical experiences and benefits to customers.
In addition, banks, credit institutions, and payment intermediaries have actively implemented programs to exempt and reduce payment service fees, salary payment fees via accounts, transaction fees on electronic banking channels for customers paying online, non-cash payment fees via digital banking applications... to promote and promote e-commerce. In 2024, the total e-commerce transactions via banks will reach over 91.5 million items, an increase of over 8.25 million items (10%), with an amount of over VND 1,629 billion (an increase of 29% compared to 2023. Of which, the strongest increase is through the internet channel, the number of items increased by 26%, with an amount of 44% increase; through the mobile phone channel, the number of items increased by 8%, with an amount of 36% increase; by other means of payment, the number of items increased by 36%, with an amount of 46% increase...
Along with that, banks and credit institutions are interested in investing in modern payment infrastructure, operating safely, effectively and smoothly. By the end of 2024, credit institutions in the area will install 205 ATMs, 990 POS card acceptance devices; 10 automatic deposit and withdrawal machines (Autobank); issue thousands of QR codes, and deploy the issuance of domestic chip cards to replace magnetic cards for convenience and to improve safety for users. Along with 1,614 payment acceptance points of banks, telecommunications units in the area are also actively developing e-wallets, opening payment accounts for Mobile money services, especially for rural and mountainous areas. To date, the number of payment acceptance points of other payment intermediary organizations (Viettel Phu Tho, VNPT Phu Tho) is 9,968 points, bringing the number of payment acceptance points in the whole province to nearly 11,600 points...
Comrade Pham Truong Giang - Director of the State Bank of Vietnam, Phu Tho branch, said: Although the results achieved are positive, especially in effectively supporting businesses and farmers in accessing capital, the credit growth rate is still lower than the national average... Therefore, to create a premise to enter a new era - the era of national development, in 2025, the Phu Tho banking sector will continue to closely follow the orientation and goals of monetary policy management of the State Bank of Vietnam, the socio-economic development goals of the province, on that basis, strengthen and improve the effectiveness of state management of currency and banking activities in the area. Accompanying and supporting the development of the local economy, the sector will focus on directing banks and credit institutions to closely follow business plans, credit growth in line with the socio-economic situation in the area; focus capital on production and business sectors, especially priority sectors, key economic development programs of the province. Along with promoting capital mobilization, we will actively and proactively 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. Promote digital transformation in banking and e-commerce activities, meeting the requirements for new business models and products and services on the basis of information technology, digital banking, digital payments...
Dinh Vu
Source: https://baophutho.vn/dong-hanh-phat-trien-kinh-te-dia-phuong-228546.htm
Comment (0)