Agribank Nghe An province branch won second prize in the 2023 system-wide emulation competition

Attending the Conference were comrades: Bui Thanh An - Member of the Provincial Party Standing Committee, Vice Chairman of the Provincial People's Committee; Phan Thi Hoan - Member of the Provincial Party Executive Committee, Secretary of the Provincial Business Bloc Party Committee; Nguyen Thi Thu Thu - Director of the State Bank of Vietnam, Nghe An branch, and representatives of departments and branches.

In 2023, the business activities of Agribank Nghe An branch will face unexpected difficulties. The negative impact of the world economy and the domestic economy will lead to a sharp decrease in credit demand, credit growth will face many difficulties; competition between commercial banks and credit institutions will become increasingly fierce...

Overcoming difficulties and closely following the direction of the superior bank, in 2023, the Branch successfully completed its tasks, and for the first time was ranked by Agribank in the emulation category and won the second prize in the entire system, after being ranked third 3 times. All 6/6 district and town bank branches successfully completed their tasks; in which Cua Lo town Branch continued to be the leading unit.

Total capital managed and mobilized (including converted domestic and foreign currencies) reached VND22,451 billion, up 16.8% compared to the beginning of the year. Total outstanding loans to the economy reached VND20,876 billion, up 10.6% compared to the beginning of the year.

The credit market share of Agribank Nghe An branch (according to total outstanding loans) in the area accounts for 7%, business operations are safe and effective. Many units have achieved very good results such as: Yen Thanh reached 291.5%, Quynh Luu reached 223.7%, Cua Lo town reached 185%, Dien Chau reached 178.8%...

The branch always closely follows and accompanies customers to overcome difficulties, improve financial capacity, and fully implement credit programs and policies under the direction of the Government and the State Bank.

During the year, the Branch reduced interest rates for more than 20,000 customers, outstanding loans reduced interest by more than VND 5,000 billion, the amount of interest reduced for customers was nearly VND 10 billion. The Branch reduced loan interest rates many times with a total reduction of 3 - 4% compared to the beginning of the year.

Along with that, charity and social security work is regularly paid attention to by Agribank Nghe An Branch. In 2023, with the support of the head office, the Branch sponsored more than 22.5 billion VND for social security activities in the province.

Key targets for 2024:

For capital indicators: Units with capital scale as of December 31, 2023 of over VND 3,000 billion: increase from 7% - 10%; Units with capital scale as of December 31, 2023 of under VND 3,000 billion: increase from 10% - 13%.

Regarding outstanding debt indicators: Units with outstanding debt as of December 31, 2023 of over VND 3,000 billion: increase from 7% -10%; Units with outstanding debt as of December 31, 2023 of under VND 3,000 billion: increase from 9% -11%; The ratio of outstanding medium and long-term loans accounts for 41% of total outstanding debt; The ratio of outstanding agricultural and rural loans is over 65% of total outstanding debt.

Revenue increases by 10%; Strive to achieve the financial profit plan, fulfill obligations to the State budget, ensure income for employees according to current regulations, not lower than 2023.

Speaking at the conference, Vice Chairman of the Provincial People's Committee Bui Thanh An acknowledged and highly appreciated the results that Agribank Nghe An branch achieved in the past year. 2023 was a year of many difficulties, but the unit's business targets all grew well and exceeded the plan, credit quality was guaranteed, prioritizing capital for rural agriculture. He also praised Agribank Nghe An branch for winning the second prize in the system-wide emulation competition in 2023.

To promote the achieved results, strive to excellently complete the tasks in 2024, contribute to the socio-economic development of the province, the Vice Chairman of the Provincial People's Committee requested Agribank Nghe An branch to continue to proactively exploit customers and accompany the "three rural areas": agriculture, rural areas and farmers. Promote the comprehensive development of existing products and services, apply modern technology to support the development of new products and services; thereby, improve the quality of banking services, meet the needs of the people...

Along with that, the provincial leaders requested Agribank Nghe An branch to continue to seriously implement the Party's policies and guidelines and the State's laws; enthusiastically participate in local movements, and perform well in social security and charity work. Pioneer in effectively implementing policy credit programs, the National Target Program on New Rural Construction and Sustainable Poverty Reduction to actively contribute to the province's economic and social development.

On this occasion, comrade Bui Thanh An presented the Emulation Flag of the Provincial People's Committee to Agribank Nghe An branch for excellently completing the task of leading the patriotic emulation movement in 2022.