Overcoming the effects of the economic recession, the provincial banking sector regained growth in the second half of 2024, helping many businesses recover and boost production. The flexible solutions and readiness to accompany customers that credit institutions in the area are implementing are the basis for the provincial banking sector to accelerate and be determined to achieve new victories.
Consulting and transaction activities are bustling at Vietcombank Vinh Phuc branch.
Positive signals
According to Vietcombank Vinh Phuc branch, after the Lunar New Year holiday of At Ty 2025, the number of transactions increased sharply, especially customer consulting activities were always bustling and vibrant.
In just the first month of 2025, outstanding loans across the entire system of Vietcombank Vinh Phuc branch increased by more than 400 billion VND, an even increase in both wholesale and retail segments. This is a very positive signal showing that bright colors have appeared in the growth picture of Vietcombank Vinh Phuc branch in 2025.
Ms. Nguyen Thi Thanh Nga, Deputy Director of Vietcombank Vinh Phuc branch, said: 2024 is a very difficult year with many challenges for the unit and banks in the province, when many businesses are facing difficulties, especially construction and manufacturing businesses affected by the economic recession.
However, with a flexible and effective business strategy, the unit achieved many positive business results, growing by more than 12%. In terms of outstanding debt, the end of the period in 2024 reached 14,355 billion VND, in terms of capital reached 11,400 billion VND. In 2025, the unit strives for a growth of 13.8%, with an expected end of the period outstanding debt of 16,280 billion VND, and assigned capital of 12,250 billion VND.
Determined to complete the growth plan, Vietcombank Vinh Phuc branch will maintain the stability of the credit programs that have been and are being implemented in 2024, go deep and close to each customer group, assign business plans to departments, require staff to promptly review customer profiles, grasp customer needs to increase access to loans.
Under the Agribank branch in Vinh Phuc province, Agribank branch in Lap Thach district operates in an area with many difficulties, mainly in rural areas with farm and ranch models, few large enterprises. However, with the efforts of the staff, closely following the direction of Agribank, actively innovating the growth model, in 2024, the unit achieved impressive growth, with outstanding loans increasing by more than 900 billion VND.
Looking more broadly, across the entire Agribank Vinh Phuc branch system, all affiliated units have achieved and exceeded their business targets. The dynamism of the provincial economy in recent times shows that credit in the province is improving, which is the driving force for double-digit economic growth according to the province's target set for 2025.
Continue to lead capital flow into the economy
In 2024, thanks to actively implementing solutions to boost credit growth, by December 31, 2024, total outstanding loans to the economy will reach VND 143,680 billion, an increase of VND 15,519 billion, equivalent to an increase of 12.11% compared to 2023, completing the set plan.
Loan turnover reached VND255,021 billion; debt collection turnover reached VND242,527 billion. These are clear evidences showing that the province's credit growth solutions have been effective, although in the first months of the year, the economy was continuously affected by many factors.
Credit growth in 2025 is forecast to face many difficulties due to a decrease in investment, production, business and consumption activities, leading to a corresponding decrease in credit demand from people and businesses.
Some customer groups have a need for loans but do not meet the prescribed conditions, especially small and medium enterprises (SMEs), while the implementation of solutions to increase access to credit through the SME Development and Guarantee Fund and other funds of the province has not been effective.
To achieve growth targets, directing capital into production and business sectors and smoothing financial flows play a very important role, contributing to improving the "health" of the economy.
In the spirit of the drastic direction of the Provincial People's Committee, credit institutions in the area continue to accompany businesses, effectively implement interest rate support programs under the direction of the State Bank of Vietnam, taking customers as the center, focusing on capital sources to promptly meet the needs of businesses.
2025 is identified as the year of acceleration, breakthrough, reaching the finish line, striving to achieve the double-digit growth target and the goals and targets of the 5-year socio-economic development plan (2021 - 2025). It is necessary to soon have solutions to consider entrusting to credit institutions (CIs) the capital of surplus extra-budgetary funds so that CIs can increase lending sources for businesses and people, both preserving capital and directly supporting businesses and people in the area.
Strengthening trade promotion activities and attracting investors, finding more markets for products and goods are the strengths of the province. From there, businesses in the province have many business opportunities, the banking sector also boosts credit growth.
Sectors and levels need to take more drastic action, find solutions to speed up site clearance for projects that have been approved for investment policies to hand over clean land to enterprises to implement projects on time. Focus on and pay attention to social housing projects, worker housing, renovation and reconstruction of old apartments...
Article and photos: Chu Kieu
Source: https://baovinhphuc.com.vn/Multimedia/Images/Id/123585/Banking industry-hopes-on-a-year-but-pha
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