Deputy Governor of the State Bank of Vietnam Doan Thai Son works with the banking system of Region 11

Speaking at the opening of the meeting, Deputy Governor Doan Thai Son said that this is part of the working program of the SBV's Board of Directors in the regions after implementing the new organizational structure. The main purpose of the meeting is to evaluate the results of the implementation of the work of streamlining the administrative apparatus to be more streamlined and effective.

Deputy Governor of the State Bank of Vietnam Doan Thai Son speaks at the meeting

Reporting at the meeting, Mr. Nguyen Kim Cuong, Acting Director of the State Bank of Vietnam, Region 11 Branch, said that the State Bank of Vietnam, Region 11 Branch, will officially operate under the new model from March 1, 2025, according to Decree No. 26/2025/ND-CP of the Government. The reorganization of the apparatus aims to streamline, enhance the efficiency of management and supervision of the banking system, and at the same time improve the ability to conduct monetary policy.

The State Bank of Vietnam, Region 11 Branch, was established on the basis of merging the State Bank branches of Gia Lai, Dak Lak, Dak Nong, Lam Dong and Kon Tum provinces according to Decision No. 311/QD-NHNN of the Governor of the State Bank of Vietnam, with a total of 200 officers and civil servants.

Regarding the system of credit institutions, the network of operations in the region has been widely developed, ensuring the provision of full financial, banking and credit insurance services to communes, remote areas. To date, the banking system in Region 11 has 35 credit institutions, with 115 level 1 bank branches, including 34 branches of State-owned commercial banks, 81 branches of joint-stock commercial banks, 5 branches of the Social Policy Bank, 3 branches of the Cooperative Bank, 3 branches of the Development Bank and 51 People's Credit Funds. The system also includes 385 transaction offices, 994 ATMs, 9,123 POS machines and 3 mobile transaction points.

Mr. Nguyen Kim Cuong, Acting Director of the State Bank of Vietnam, Region 11 Branch, reported on the branch's operations after the merger.

Mr. Cuong shared that in the first months of 2025, although in the transition and preparation phase for the new model, the State Bank of Vietnam, Region 11 branch, has actively and well implemented professional tasks, ensuring smooth and effective operations. Credit institutions in the area have well implemented monetary, interest rate and credit policies, meeting the capital needs of people and businesses. Especially in the key production and business sectors of the locality. By the end of March 2025, the total outstanding credit balance of credit institutions in Region 11 is estimated at VND 593,759 billion, an increase of 1% compared to the end of 2024.

Although the new organizational model has only been in operation for a short time, the system of credit institutions in the area ensures safe and smooth operations. To continue promoting the effectiveness of the new organizational model, Mr. Cuong recommended that the State Bank provide clear guidance on the functions and tasks of the Regional Inspectorate according to the new organizational structure; improve the apparatus and personnel at the departments of the State Bank of Vietnam, Region 11 branch; supplement and adjust regulations on standards and norms for the use of machinery and equipment and ensure appropriate mechanisms for satellite units with many credit institutions operating.

At the meeting, leaders of credit institutions in the area agreed with the State Bank's policy on streamlining the apparatus and merging State Bank branches in 5 Central Highlands provinces into State Bank Branch Region 11.

A representative of Agribank Dak Lak branch said that strictly following the direction of the State Bank, the bank has proactively lowered interest rates and diversified products and services to meet customers' needs. The State Bank's implementation of the new model has not caused any difficulties or interruptions in Agribank's business operations.

Mr. Ly Anh Dao, Director of SHB Gia Lai, said that the outstanding loan balance is over 6,000 billion VND, and mobilized over 2,000 billion VND. The merger of State Bank of Gia Lai into State Bank of Region 11 will inevitably affect the general operations of credit institutions, but the impact is insignificant.

Conference scene

Concluding the conference, Deputy Governor Doan Thai Son praised the efforts of the State Bank of Vietnam, Region 11 branch, in preparing for the meeting and maintaining stable, smooth and safe banking operations in the area after the merger.

The Deputy Governor directed that the branch needs to continue to stabilize its organizational structure, avoid interruptions in inspection and supervision work, and ensure continuous and effective operations. At the same time, it is necessary to improve internal processes, focusing on inspection, treasury, accounting, and communications.

The Deputy Governor also emphasized the importance of identifying solutions and directions for the operations of banks in the coming period. Units need to improve management and remove difficulties and obstacles to meet the target of credit growth and banking services to promote economic growth. The application of information technology in inspection and supervision must also be promoted to improve efficiency.

The Deputy Governor requested that the SBV Region 11 and credit institutions in the area continue to promote their responsibilities and carry out their tasks according to Resolution 01/NQ-CP of the Government and Directive 01/CT-NHNN of the SBV Governor, ensuring safety and efficiency in banking activities.