Deposit insurance in the North Central region: Always ensuring the rights of depositors

(Baonghean.vn) - 15 years of establishment and development, the Deposit Insurance of Vietnam (DIV) Branch in the North Central region has always protected the legitimate rights and interests of depositors and implemented insurance policies well.

Delegates attending the celebration. Photo: Tran Chau

The North Central Region Branch of the Vietnam Deposit Insurance Corporation was established under Decision No. 105/2002/QD-HDQT dated June 25, 2002 of the Board of Directors of the Vietnam Deposit Insurance Corporation, and is assigned to directly manage 7 provinces in the region, including: Ninh Binh, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Thua Thien Hue. Over the past 15 years, the branch has made continuous efforts to protect the legitimate rights and interests of depositors, contributing to the safety of the banking system and committing to increasingly better implementation of the deposit insurance policy.

Comrade Le Xuan Dai - Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee awarded the excellent emulation flag to the North Central Vietnam Social Insurance Branch. Photo: Tran Chau

Up to now, after 15 years of operation, the Branch has gradually built and grown together with the economic development of the locality and of credit institutions in the area. The Branch has received and completed the procedures for requesting the Vietnam Deposit Insurance to issue new deposit insurance certificates to 86 units, issue additional 47 deposit insurance certificates, reissue 20, exchange 245; revoke 3 due to dissolution and merger.

Total capital mobilized by credit institutions directly managed by the branch reached 260,875 billion VND, an increase of more than 20.8 times compared to 2002. Outstanding loans reached 323,893 billion VND, an increase of 19.7 times compared to 2002, the number of weak credit institutions accounted for 0.02%. The operations of credit institutions in the area basically developed safely and the branch has not yet incurred any payment of insured deposits.

The branch actively enhances training to improve the quality of its staff to meet the requirements of the industry's tasks, while contributing to the development of the banking system; actively coordinates with Party committees at all levels, authorities, and branches of the State Bank of Vietnam in the provinces under its management to do a good job of information exchange, thereby maintaining the safe and sustainable development of the system of credit institutions in the North Central region.

The North Central Deposit Insurance Branch always ensures legitimate rights for depositors. Illustrative photo.

Speaking at the ceremony, the leader of the State Bank of Vietnam (SBV) Nghe An branch affirmed: The current system of people's credit funds in the area is developing stably and continuously growing thanks to the role of the North Central Deposit Insurance branch. Deposit insurance ensures all customers and the SBV always recognizes the competitive spirit in creative work of the branch.

On this occasion, on behalf of the provincial leaders, comrade Le Xuan Dai - Member of the Provincial Party Committee, Permanent Vice Chairman of the Provincial People's Committee awarded the excellent emulation flag to the North Central Deposit Insurance branch.

Pearl