Help organizations and individuals ensure the safety of deposits

(Baonghean) - As the representative of the Deposit Insurance of Vietnam (DIV) in organizing the implementation of policies and laws on Deposit Insurance (DIV) in the area, the DIV Branch in the North Central region always completes its assigned tasks well, gradually affirming its role and position, ensuring financial security in the area.

In 2017, in the region, although affected by harsh weather, storms and floods in Nghe An, Ha Tinh and Quang Binh provinces affected the social life of the localities, in general, the social security situation remained stable, most credit institutions had mobilized capital and outstanding loans grew well, the operations of organizations participating in the Deposit Insurance were basically safe, effective, and liquidity was guaranteed.

Provincial leaders awarded Certificates of Merit to individuals at the conference to deploy tasks in 2017. Photo: Viet Phuong

Based on the assigned functions and tasks, the North Central region branch of the Vietnam Social Insurance has successfully completed the proposed plan, ensuring quality and progress; Well implemented the management and operation work under the direction of the Vietnam Social Insurance Board of Directors; Continued to deploy tasks related to the FSMIMS project, arranged staff to participate in the project's training courses and implemented the operation of subsystems related to the project.

During the year, the Branch guided the completion of the deposit insurance participation dossiers and submitted them to the General Director for the issuance of new deposit insurance certificates for 04 people's credit funds; submitted for re-issuance of 242 deposit insurance certificates (11 units due to name change), issued 148 copies and issued 01 additional deposit insurance certificate. Up to now, the total number of organizations participating in deposit insurance that the Branch directly manages is 234 units, including 01 North Asia Commercial Joint Stock Bank, 01 Thanh Hoa microfinance institution and 232 people's credit funds, an increase of 04 units compared to the beginning of the year.

Identifying supervision as one of the key tasks, the Branch has performed well the regular supervision of organizations participating in the Deposit Insurance in the area under the direct management of the branch (reaching 99 - 100%). Through supervision, in general, the operation of Bac A Commercial Joint Stock Bank, microfinance institutions and the people's credit fund system in the area is always stable with a good growth rate, reasonable capital structure, basically complying with regulations on safety indicators in banking activities, and ensuring credit quality.

The results of the inspection up to this point show that 72 organizations participating in the Social Insurance have achieved 100% of the plan, with 4 units adjusted down compared to the plan at the beginning of the year; there have been 148 recommendations for the inspected units to correct and correct errors, and synthesize reports to send to the Social Insurance of Vietnam and the State Bank of Vietnam branches in the provinces for coordination in handling.

The branch has done a good job of collecting and paying fees from organizations participating in the Deposit Insurance in the area under its management. Bac A Commercial Joint Stock Bank paid fees at the Head Office. The system of people's credit funds and microfinance institutions paid fees at the branch with the total actual fees paid in 2017 being VND 22,188,585,000, an increase of 18.5% compared to 2016.

In addition, the branch has implemented information and propaganda activities in accordance with the set plan objectives. Strengthening information and propaganda activities in many forms, coordinating with local media agencies and newspapers to promote the image and content of deposit insurance activities in newspapers and magazines. Coordinating the distribution of information leaflets on the new deposit insurance payment limit (52,900 leaflets).

During the year, the Branch organized events to promote deposit insurance policies in Quang Binh and Ha Tinh provinces in accordance with the direction of the Vietnam Deposit Insurance Corporation. The Branch had more than 20 news and articles published in local newspapers and the Vietnam Deposit Insurance Corporation website. Thereby, it further strengthened the trust of depositors and contributed to stabilizing banking activities in the area.

Depositors' rights will be jointly guaranteed by deposit insurance and banks. Photo: Viet Phuong

In addition, the Branch also regularly focuses on organizing mass organizations and humanitarian charity activities in remote areas, contributing to promoting the image of the Branch in particular and of BHTGVN in general to the public. During the year, the total amount of donations and support from the Branch's staff was nearly 75 million VND.

Along with expertise, human resources, finance, logistics and mass organizations are always interested in creating favorable conditions to support expertise to complete tasks well as improve the lives of officers, civil servants and workers. Branch leaders always encourage and motivate staff to participate in training to improve their expertise and IT skills. Organization and restructuring of the apparatus are strictly implemented in accordance with regulations; flexible management and operation are implemented to maximize the capacity of each staff member, equipment for purchasing is fully equipped, spending ensures effective savings, cultural and sports activities, social organizations are always interested in achieving many high achievements.

Headquarters of the Deposit Guarantee Branch of the North Central region. Photo: Viet Phuong

Mr. Tran Van Lam - Director of the North Central Branch said: In recent years, the unit has successfully completed its assigned tasks, making many positive contributions to the success of the Vietnam Deposit Insurance. Promoting the achievements, in the coming time, the branch will continue to closely follow the development orientation of the Vietnam Deposit Insurance on the basis of actively participating in giving opinions on the guiding documents of the Law on Deposit Insurance and the internal management documents of the Vietnam Deposit Insurance; effectively implementing professional procedures in accordance with legal regulations; strengthening in-depth inspection and supervision of organizations participating in the Deposit Insurance; strictly implementing the direction of the Vietnam Deposit Insurance in disseminating policies and laws on deposit insurance; strengthening and promoting information and propaganda work in the area with diverse forms and contents, improving the effectiveness of propaganda activities, and strengthening the trust of depositors.

In addition, the Branch will actively enhance 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 coordinate with Party committees at all levels, authorities, and branches of the State Bank of Vietnam in the provinces under its management to effectively exchange information, thereby contributing to maintaining the safe and sustainable development of the system of credit institutions in the North Central region, in order to effectively protect the rights and legitimate interests of depositors.

Viet Phuong