Over the past time, the banking sector of Quang Tri province has always strived to affirm its pioneering role and position in providing capital for production and business for enterprises and people, contributing positively and effectively to the socio-economic development of the locality.
Staff of the Transaction Office of the Social Policy Bank of Quang Tri town guides people to access the Social Housing Loan Program according to Decree No. 100/2015/ND-CP of the Government - Photo: HT
Flexible and regulated monetary policy management
With the role of state management of currency and banking activities in the area, the State Bank of Vietnam, Quang Tri Branch has focused on directing credit institutions (CIs) to comply with legal regulations, operate safely and effectively, and contribute positively to the socio-economic development of the province. CIs in the area continue to maintain stable mobilization interest rates according to the regulations of the State Bank, thereby reducing lending interest rates to support people and businesses to stabilize their lives and develop production and business.
On the other hand, the provincial branches of the State Bank always closely monitor the market to require flexible and appropriate exchange rates. Commercial banks in the area strictly implement regulations on exchange rate posting; foreign exchange management is seriously implemented.
Bank capital has contributed to the establishment and operation of 3 industrial parks, 15 industrial clusters, 7,770 industrial and handicraft production establishments, creating jobs for thousands of workers. Among them, there are many large projects such as: National Highway 1 expansion investment project; Quang Tri Hydropower Plant; Khe Nghi, Khe Giong, Mai Linh Hydropower Plants...; Huong Linh 1, 2 Wind Power Plant Project; Cua Viet Tourism Service Center Investment Project; MDF-VRG Quang Tri 1, 2 Wood Panel Factory Project.
Textile projects, seafood fishing, pepper, rubber, coffee and many other agricultural products; Hai Lang, Trieu Phong, Vinh Linh, Gio Linh flood avoidance projects... By the end of 2023, loan turnover reached 61,841 billion VND; total outstanding loans reached 51,608 billion VND, an increase of 867 billion VND, equivalent to an increase of 1.71% compared to the end of 2022; bad debt was 426 billion VND, accounting for 0.83% of total outstanding loans.
In addition to the state economic sector, the banking sector has implemented loan packages to support the private economic sector, develop socio-economic infrastructure, promote structural transformation, carry out industrialization and modernization, and solve social problems.
Currently, the banking system of Quang Tri province continues to closely accompany major, key projects of the province such as: Saigon - Hanoi Commercial Joint Stock Bank (SHB) committed to providing finance of more than 4,700 billion VND for the Quang Tri Airport project; Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) Quang Tri Branch signed a credit contract to finance 450 billion VND to invest in the Quang Tri Industrial Park project.
In addition, other key projects such as My Thuy Port Area, Cam Lo - Lao Bao Expressway, National Highway 15D from My Thuy seaport to La Lay International Border Gate, Coastal Road connecting the East - West Economic Corridor with the Eastern bypass of Dong Ha City, Lao Bao - Densavan Cross-Border Economic and Trade Zone and large-scale energy projects in the Southeast Quang Tri Economic Zone... are all approached by banks, ready to support credit when fully meeting the conditions.
Regarding support for hunger eradication and poverty reduction, preferential credit policies for poor households and other policy beneficiaries have really come into effect since the Government issued Decree No. 78/2002/ND-CP dated October 4, 2002 on credit for the poor and other policy beneficiaries, especially after Directive No. 40-CT/TW dated November 22, 2014 of the Secretariat on strengthening the Party's leadership over social policy credit, Conclusion No. 06-KL/TW dated June 10, 2021 of the Secretariat on continuing to implement Directive No. 40-CT/TW.
After more than 20 years of implementation, the source of social policy credit capital in the area has continuously grown, mobilizing financial resources to better meet the borrowing needs of poor households, near-poor households, newly escaped poverty households and other policy beneficiaries.
Credit programs have been expanded. From the initial 2 credit programs, up to now, 17 programs have been deployed and implemented in the province. Credit growth has continuously increased over the years, with an average growth rate of 19.78%/year.
People make transactions to deposit money into the CDM machine of Agribank, Dong Ha City branch - Photo: HT
Policy credit capital has created favorable conditions for the poor and policy beneficiaries in need and eligible to access policy credit capital conveniently and promptly, contributing to helping more than 66,500 households overcome the poverty line; attracting and creating jobs for nearly 33,000 workers.
Helping nearly 87,000 students in difficult circumstances to borrow capital to cover tuition fees and buy computers; supporting the construction and renovation of more than 109,000 clean water and environmental sanitation works in rural areas; supporting the construction and repair of 6,302 houses for poor households, 757 social housing units, and 771 workers receiving loans from businesses to pay salaries due to the impact of COVID-19.
Catching up with digital transformation
It can be affirmed that in the current period, digital transformation is the key to developing banking services as well as continuing to make great strides in promoting cashless payments. Under the close direction of the State Bank of Vietnam, Quang Tri Province Branch, commercial banks in the area have proactively and actively implemented digital transformation, creating the premise for the development of diverse cashless payment services.
Accordingly, local banks have quickly applied new technical and technological solutions to service provision activities such as artificial intelligence (AI), machine learning (ML), big data (Big Data)...; modern and friendly products and services that bring many benefits to customers such as QR Code, e-wallet, digitizing card information, opening online accounts authenticated by eKYC, converting magnetic cards to chip cards...
Through e-banking services, customers' payment and collection orders are executed quickly, facilitating the simplification of disbursement and lending processes and procedures. In addition, technical infrastructure and technology serving non-cash payments continue to be focused on investment, expansion and effective promotion. The ATM and POS systems operate stably, receiving investment attention from banks, improving service quality.
To date, the province has 115 ATMs, including 10 multi-function ATMs; more than 21,000 QRCode payment acceptance points located at businesses, distribution facilities/chains, retail stores, restaurants, hotels, medical facilities, hospitals, schools, etc.
With the convenience of QRCode scanning method, payment via Mobile Banking has grown extremely strongly (up 468% in quantity and 731% in value compared to 2022 - higher than the national average value of 471.13%). Payment via POS card acceptance devices increased by 99% in quantity and 67% in value compared to 2022.
In particular, the number of money deposit transactions via multi-function machines such as CDM and CRM in the area reached 134,989 items, equivalent to a value of more than VND 1,018 billion. Money transfers via Internet Banking, Mobile Banking, and POS tend to increase in both quantity and value (up 28% in quantity and 23% in value compared to 2022). The proportion of digital payments compared to total means of payment in the area reached nearly 80%.
The number of customers opening and using payment accounts has continuously increased over the years. To date, Quang Tri province has 705,759 active personal accounts (up 40% compared to the end of 2022), more than 69% of adults have payment accounts; of which, opening accounts using the electronic customer identification method (eKYC) increased by 114% compared to the end of 2022.
Along with that, the bank card service has developed, many credit institutions have added and integrated bank card features, allowing use for payment and services at other suppliers. To date, the whole Quang Tri province has more than 769,000 cards in circulation (an increase of 32% compared to the end of 2022). Credit institutions always focus on improving service quality, creating convenience for customers through the development of the quantity, quality and scale of ATM network, card acceptance devices at points of sale (card swiping via POS).
In the coming time, the banking industry will continue to strengthen propaganda about the benefits of digital transformation in the banking sector to people and businesses, while raising awareness and understanding for people about using banking services on digital channels safely, protecting themselves from risks in the electronic environment.
Ensuring the transformation in the provision of products and services, acting as a bridge to promote people and businesses to use digital products and services; thereby, helping to effectively exploit data to increase customer experience and engagement.
Autumn Summer
Source: https://baoquangtri.vn/nganh-ngan-hang-dong-hanh-voi-su-phat-trien-cua-que-huong-186621.htm
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