Launching State Bank Region 7 and boosting credit in the area

On the afternoon of April 4, 2025, in Thanh Hoa City, the State Bank of Vietnam (SBV) held an announcement of the Decision to launch SBV Region 7 and a conference to promote bank credit to contribute to economic growth in Region 7.

Delegates attending the conference.

Attending the conference were comrades: Lai The Nguyen, Standing Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council, Head of the Provincial National Assembly Delegation; Pham Quang Dung, Deputy Governor of the State Bank of Vietnam; Nguyen Van Thi, Member of the Provincial Party Committee; Standing Vice Chairman of the Provincial People's Committee; Nguyen Quang Hai, Member of the Provincial Party Committee, Vice Chairman of the Provincial People's Council; and leaders of Ninh Binh, Ha Nam, Nam Dinh provinces and leaders of the State Bank of Vietnam Region 7...

Accordingly, the State Bank of Vietnam Region 7 includes 4 provinces: Nam Dinh, Ha Nam, Ninh Binh, Thanh Hoa; the headquarters of the State Bank of Vietnam Region 7 is located in Thanh Hoa.

On March 1, 2025, the Governor of the State Bank of Vietnam issued Decisions on personnel transfer and appointment in Region 7, specifically: Mr. Tran The Hung, Deputy Director of the Internal Audit Department of the State Bank of Vietnam, holds the position of Director of the State Bank of Vietnam Region 7; Deputy Directors of the State Bank of Vietnam Region 7 include: Mr. Tong Van Anh, Mr. Dang Van Kim, Mr. Nguyen Van Khiet and Mr. Ngo Lam Son.

At the conference, Deputy Governor of the State Bank of Vietnam Pham Quang Dung presented the Decision to the Board of Directors of the State Bank of Vietnam Region 7 and the heads and deputy heads of departments.

Director of State Bank of Vietnam Region 7 Tran The Hung reported on the situation of banking credit activities in the region.

Currently, the management network of the State Bank of Vietnam in Region 7 has 112 level 1 bank branches, including: 32 branches of state-owned commercial banks, 70 branches of non-state joint stock commercial banks, 4 branches of social policy banks, 2 branches of development banks, 4 branches of cooperative banks; 160 people's credit funds; 1 Thanh Hoa microfinance organization and 6 branches of Tinh Thuong microfinance organization. The whole region has 439 transaction offices, 927 ATMs, 4,748 POS machines and 3 mobile transaction points.

Region 7 is located in 4 provinces in the North Central region and the Red River Delta, belonging to the North-South economic corridor; has potential and advantages in infrastructure, tourism services, marine economy, mineral resources and energy project development. All 4 provinces have outstanding achievements in attracting FDI, with large projects on seaports, industrial parks, and economic growth at a fairly good level, creating favorable conditions for the banking sector to boost credit growth.

Comrade Pham Quang Dung, Deputy Governor of the State Bank of Vietnam and Director of the State Bank of Vietnam Region 7 Tran The Hung presented the appointment decision to 4 Deputy Directors of the State Bank of Vietnam Region 7.

By the end of February 2025, capital mobilization of credit institutions in the Region reached VND 500,853 billion, an increase of 4.9% compared to the end of 2024, meeting 90% of credit capital demand in the Region, accounting for 3.27% of capital mobilization nationwide. Of which, capital mobilization in the two provinces of Thanh Hoa and Nam Dinh accounted for the largest proportion of total capital mobilization in the Region (accounting for about 39.3% and 27.3%, respectively). Outstanding credit balance at the same time of credit institutions in the Region reached VND 556,230 billion, an increase of 0.31% compared to the end of 2024, accounting for 3.53% of outstanding credit balance nationwide. Of which, outstanding credit balance in the two provinces of Thanh Hoa and Nam Dinh accounted for the largest proportion of total outstanding credit balance in the Region (accounting for about 40.1% and 22.6%, respectively).

At the conference, delegates analyzed the difficulties, obstacles, and issues that need attention in banking credit activities in the region. At the same time, they proposed and recommended to make banking credit activities in the region more and more effective.

Deputy Governor of the State Bank of Vietnam Pham Quang Dung speaks at the conference.

Speaking at the conference, Deputy Governor of the State Bank of Vietnam Pham Quang Dung said: The capital mobilized at the State Bank of Vietnam Region 7 only meets about 90% of the credit capital demand in the area, of which some provinces only meet about 68% to 70%. In the context of many challenges, especially recent developments when the US Government has applied very high tax rates to a number of countries, especially Vietnam.

To achieve the banking industry's credit growth target of 16% this year, contributing to achieving the national economic growth target of at least 8% and that of the four regional provinces of 10.5-12%; requires the entire banking industry in general and Region 7 in particular to resolutely implement many solutions to promote the connection of credit needs, the connection between banks and enterprises to promptly grasp difficulties and problems and have timely and effective solutions.

Permanent Vice Chairman of the Provincial People's Committee Nguyen Van Thi spoke at the conference.

On behalf of the provincial leaders; Standing Vice Chairman of the Provincial People's Committee Nguyen Van Thi happily welcomed the Deputy Governor of the State Bank of Vietnam, leaders of Nam Dinh, Ha Nam, Ninh Binh provinces; leaders of departments and units under the State Bank of Vietnam and commercial banks to attend the conference on Promoting bank credit, contributing to promoting economic growth in Region 7, held in Thanh Hoa City.

He emphasized: this is an important event for Party committees, authorities and the banking sector to promptly grasp the credit capital needs of businesses and people; thereby removing obstacles, accelerating the recovery, stabilization and development of production and business in the provinces of Region 7 in particular and improving the ability to access and absorb credit capital of the economy in general.

Conference overview.

Next, he also informed the conference about the socio-economic situation of Thanh Hoa in recent times. Accordingly, the growth rate of total product in Thanh Hoa province in 2024 is estimated at 12.16%, ranking 2nd in the country; state budget revenue is estimated at 57,052 billion VND, exceeding 60% of the estimate, up 32% over the same period, the highest ever, ranking first in the North Central region, ranking 7th nationwide; total mobilized social investment capital is estimated at 138,856 billion VND, exceeding 2.9% of the annual plan... The results achieved have important contributions from the banking sector with its role as the lifeblood of the economy, providing timely capital, directing credit to priority areas and local growth drivers.

Leaders of the State Bank of Vietnam and leaders of provinces in Region 7 presented flowers to congratulate the launch of the State Bank of Region 7 Leadership Board.

To continue to create a solid momentum for socio-economic development in the coming time, he requested that the State Bank of Region 7 closely monitor the socio-economic situation and banking activities to promptly advise local Party committees and authorities in implementing appropriate credit policies, contributing to the socio-economic development of the provinces in the region; promote credit growth according to the development orientation of the locality, focusing on production sectors, priority sectors, promoting preferential credit to support economic growth; continue to reform administrative procedures, create favorable conditions for businesses and people to access bank capital, but still ensure credit quality, limit bad debt arising; coordinate to promote digital transformation, implement Project 06 and develop non-cash payments, contribute to building e-government and smart cities... Thanh Hoa province commits to always support the banking industry in performing the tasks of currency management and trading, exploiting the province's potential for sustainable development of the industry.

Source: https://thanhhoa.gov.vn/portal/Pages/2025-4-5/Ra-mat-Ngan-hang-Nha-nuoc-Khu-vuc-7-va-day-manh-tiopevc8.aspx