Agribank Nghe An: main investment in developing 'agriculture, rural areas'

(Baonghean) - Operating in the largest locality in the country, with a population of over 3.5 million people, Agribank Nghe An always affirms the key role of the State Commercial Bank in both undertaking political tasks, implementing policy credit programs, ensuring social security, and doing business effectively in the context of increasingly fierce competition. Agribank Nghe An is proud to be the leading unit in the rural financial market, a loyal companion of agriculture, rural areas and farmers in the area.

Main investment in developing "agriculture, rural areas"

Agribank Nghe An currently has over 1,000 staff, 69 transaction points in 21 districts, towns and cities. Understanding the capital needs of local people and businesses for economic development and getting rich right in their hometown, based on the general development orientation of Agribank, Agribank Nghe An prioritizes investment in traditional and strong fields such as agriculture and rural areas, as well as priority investment fields according to the policies of the Party, Government and State Bank.

Agribank Nghe An Headquarters.

As of May 31, 2017, Agribank Nghe An continued to be in the top of commercial banks in the area with total capital reaching over 22,170 billion VND, total outstanding loans to the economy reaching 19,307 billion VND (over 150 thousand customers were served and borrowed capital at branches and transaction points of Agribank Nghe An). In which: Savings deposits from individual customers accounted for 93%, outstanding loans to the agricultural and rural sectors of the branch accounted for over 88% of total outstanding loans. The branch's product and service development activities also achieved positive results, with service revenue of 44.5 billion VND, contributing to the Agribank system achieving a high non-credit revenue rate, promptly meeting the need to diversify products and services to serve the needs of customers and partners in payment transactions... This is an encouraging result for Agribank Nghe An, especially in the context of credit activities in the area that have been and continue to be under pressure from fierce competition.

Effective implementation of policy credit

Demonstrating the role and political tasks of a state-owned commercial bank, Agribank Nghe An is always at the forefront of transferring capital to all economic sectors in the province, especially in the agricultural and rural areas. Leading the implementation of Decree 55/2015/ND-CP of the Government on credit policies for agricultural and rural development; Decree 67/2014/ND-CP of the Government on a number of policies for aquaculture development,... with many groups of solutions proposed for implementation to suit local realities. Branches implementing good credit policies, with high outstanding loans such as Vinh City, Do Luong, Quynh Luu, Dien Chau, Yen Thanh, Hung Nguyen, Nam Dan, Thanh Chuong.

Currently, many customers have borrowed capital at Agribank Nghe An branches to invest effectively. That is the case of Mr. Ngo Van Ngoan, hamlet 10, Nghia Dong commune (Tan Ky), borrowed 2.6 billion VND, has had a loan relationship with Agribank Tan Ky for 15 years, invested in developing the dairy farm economy, was recently visited by the President on the occasion of April 30, 2017; Ms. Pham Thi Dung, in Do Luong town, Do Luong district, borrowed 1 billion VND, has had many years of loan relationship with Agribank Do Luong, invested in food business; or Mr. Nguyen Ngoc Trung, Tien Thanh village, Chi Khe commune (Con Cuong), borrowed 750 million VND, invested in building an irrigation house to grow clean vegetables, grow seedlings and fruit trees.

Agribank Nghe An gives Tet gifts to poor households.

In addition, the loan program under Decree 67/2014/ND-CP of the Government on a number of policies for fisheries development has a total outstanding debt of over 101 billion VND, of which Dien Chau is 13.9 billion VND, Quynh Luu is 50.7 billion VND, Hoang Mai town is 37 billion VND.

In the coming time, Agribank Nghe An is determined to continue increasing investment levels, ensuring sufficient capital for customers' production and business development needs, while promoting investment in modern technology, continuing to expand its operating network, developing modern distribution channels through ATM, POS, Mobile Banking, Internet Banking... ready to promptly supply the service needs of all customers. Thereby, making Agribank Nghe An not only a key commercial bank in investing in the development of "three agricultures" but also a pioneering credit institution in developing convenient service products.

Along with effective business activities, Agribank Nghe An always promotes social responsibility to the community through investing funds for social security and charity activities in the area. Notably, the branch is a commercial bank that has made many contributions to the construction of new rural areas with large investment capital. From 2010 to 2015, it invested over 19 billion VND in social charity work. In 2016 alone, it sponsored the construction of Nghi Van Commune Health Station (Nghi Loc) with 2.5 billion VND; Phan Dang Luu Traditional Education House and Museum (Yen Thanh) with 2 billion VND; Construction of multi-functional school building for Nguyen Xuan On High School (Dien Chau) with 5 billion VND; Sponsorship of study encouragement for Nguyen Xuan On High School with 500 million VND. In 2017, continue to coordinate with the Provincial Fatherland Front Committee to implement the policy of supporting each district, town, and city with 1-2 gratitude houses, with the total estimated cost in the whole Nghe An province of over 1 billion VND.

In 2017, Agribank Nghe An strives to increase capital from 16 - 18%; the minimum ratio of residential deposits accounts for 90% of total capital. Outstanding loans increase from 15 - 17% (in which, the ratio of outstanding medium and long-term loans accounts for 48% of total outstanding loans; the ratio of outstanding agricultural and rural loans accounts for 80% of total outstanding loans).

To achieve the set goals, Agribank Nghe An continues to adhere to the direction of local socio-economic development tasks in each period, market developments, proactively propose appropriate solutions in business activities, striving to achieve the highest results according to the set goals. Actively search and select qualified customers to expand lending. Continue to coordinate with the Farmers' Association and the Women's Union to promote lending through groups. Focus on exploiting small-scale individual household customers to increase credit investment in the agricultural and rural sector.

Promote lending according to Decree 55 of the Government. Actively seek qualified corporate customers to expand lending, continue to implement lending according to Decree 67 of the Government, lending according to Decision 68... Strive to lend capital to serve production and business well, ensure enough capital for loans for seasonal production, livestock, processing, and loans for living needs according to regulations of the superior bank. Strengthen measures to improve credit quality, carry out good inspection before, during, and after lending, appraisal work must focus on the economic efficiency of the project.

Closely follow customers to urge debt collection on time, limit bad debt occurrence, ensure bad debt ratio below the allowed level, strictly control debt repayment restructuring. Promote comprehensive development of products and services, especially pay attention to specific instructions for products and services that have developed slowly in the past. Well organize domestic and international payment, remittance payment, money transfer services, foreign currency trading, ABIC insurance, card products, electricity and water bill collection services, securities transaction points...

Nguyen Thanh Toan

(Agribank Nghe An)