Agribank Nghe An celebrates 30th anniversary of establishment, receives First Class Labor Medal

On the morning of March 31, the Bank for Agriculture and Rural Development, Nghe An branch, celebrated its 30th anniversary and received the First Class Labor Medal.

Comrade Le Xuan Dai - Member of the Provincial Party Committee, Permanent Vice Chairman of the Provincial People's Committee attended and gave a speech. Also attending were leaders of the Vietnam Bank for Agriculture and Rural Development.

Delegates attending the ceremony. Photo: Thu Huyen

Established on March 26, 1988, Agribank Nghe An has gone through 30 years of construction and development. Up to now, Agribank Nghe An has become a type 1, class 1 branch and is one of the branches with the largest scale of operation in the Agribank system.

With the motto“Borrow to lend", Capital work is always identified by the branch as an important task, the total capital managed and mobilized by the end of 2017 of the branch reached 24,453 billion VND, an increase of 1,839 times compared to 1988, holding a large market share in the total capital of commercial banks and credit institutions in the area.

Vice Chairman of the Provincial People's Committee Le Xuan Dai spoke at the ceremony. Photo: Thu Huyen

In credit investment, effectively implement key economic programs of Nghe An province such as: Rural agricultural modernization program, crop and livestock restructuring program, development of industrial parks, raw material areas, development of traditional craft villages, rapid and sustainable poverty reduction program according to Resolution 30a of the Government, new rural construction program.

By the end of 2017, the total outstanding loans to the economy of Agribank Nghe An reached 21,552 billion VND, 602 times higher than in 1988, of which outstanding loans to households reached 19,352 billion VND, accounting for nearly 90% of total outstanding loans, with an average annual growth of outstanding loans reaching 19-21%. Credit investment activities always ensure safety and efficiency with the annual bad debt ratio always being below the allowable level.

Agribank Nghe An branch received the First Class Labor Medal in Hanoi. Photo: TH

Agribank Nghe An's credit capital has helped thousands of businesses develop production and business, and nearly 160,000 households develop their economy, expand their businesses, and improve their income.

Since 2000, in addition to the agricultural and rural markets, the branch has expanded its investment to urban areas, industrial zones, and key areas of the province. Proactively approaching and lending capital to thousands of small and medium enterprises for production and business, and participating in co-financing large projects such as: Ban Ve Hydropower Plant, Ban Chat, Vinh bypass... Credit products are increasingly diversified, developed, and increasing competitiveness in the credit market.

Awarding the Emulation Flag of the Provincial People's Committee to Agribank Nghe An branch. Photo: Thu Huyen

Speaking at the ceremony, comrades Le Xuan Dai - Vice Chairman of the Provincial People's Committee; Trinh Ngoc Khanh - Party Secretary, Chairman of the Board of Directors of Agribank Vietnam acknowledged and highly appreciated the efforts and achievements of Agribank Nghe An. After 30 years of innovation, solidarity in construction and development, Agribank Nghe An has achieved many important achievements, becoming a commercial bank branch with the largest scale of operations, total assets, and network system among commercial banks in the area.

In 2018 and the following years, it is recommended that Agribank Nghe An continue to determine the goal of maintaining and promoting the position of a leading commercial bank, playing a key role in implementing the monetary policies of the Party and the State, especially in the field of credit investment and providing products and services in the rural financial market; Continue to modernize technology, expand the network; diversify and improve the quality of products and services, always be a companion, loyal and trustworthy of hundreds of thousands of production and business households and enterprises in the area.

Awarding Certificates of Merit to groups with outstanding achievements. Photo: Thu Huyen

On this occasion, Agribank Nghe An branch was awarded the First Class Labor Medal by the Party and State; the Provincial People's Committee awarded the Flag for leading the emulation movement.

In addition, 8 collectives and 15 individuals were also awarded Certificates of Merit by the Provincial People's Committee for their outstanding achievements.