State Bank of Vietnam, Nghe An Branch: Improving the quality of operations

(Baonghean) - In the 2010 - 2015 term, with efforts to overcome challenges and difficulties, the Party Committee of the State Bank of Vietnam (SBV) Nghe An Branch has effectively led the management of banking activities in the area, promptly implementing tasks, solutions, and policies of the Government, the Banking sector, and the People's Committee of Nghe An province.

The Party Committee of the State Bank of Vietnam, Nghe An Branch currently has 43 Party members. Every year, based on the assigned tasks and the actual situation, the Party Committee leads the professional expertise to promptly advise on solutions and plans to implement tasks related to banking activities, restructuring and handling bad debts; Regularly analyze the situation of banking activities in the area to report and promptly advise the Party Committee, local authorities, and the Central Bank on solutions to help banking activities be safe and effective. During the past term, in addition to regular supervision, the Branch has conducted 292 inspections and checks on professional aspects. The results include 1,132 recommendations, rectification of existing violations; many risk warnings for credit institutions and credit institution branches; administrative sanctions against 29 units with a total amount of 108.5 million VND.

The State Bank helps credit institutions operate safely and healthily. In the photo: Transaction at Agribank Nghe An

At the same time, direct departments to strictly implement the Governor's regulations on banking licensing, ensuring that the operating network of units meets the requirements for developing banking services, gold trading activities and foreign exchange activities. During the 2010-2015 term, each year there was a bumper cash harvest, the annual cash receipts and disbursements, and payment turnover through banks were all very large, but import and export, cash receipts and disbursements and payment activities were always safe and accurate. With the leadership role of the Party Committee, the activities of the banking sector in the area during the past term always achieved positive results, the total mobilized capital of credit institutions and credit institution branches by the end of March 2015 reached 69,610 billion VND, the average annual growth rate was approximately 24.6%/year; Total outstanding credit by March 31, 2015 reached 111,447 billion VND; Average growth rate reached 30.5%/year. Bad debt is always at the allowable level below 3%.

Along with professional work, the Party Committee strengthens political theory education, fosters professional skills for Party members; classifies Party members in conjunction with the classification of civil servants. During the past term, the Party Committee has seen a clear change from awareness to action, the leadership is united and in agreement, existing problems are quickly overcome, and the leadership of monetary and banking activities in the area has had many profound and substantive changes. The Party Committee has always maintained the title of clean, strong, and outstanding throughout the term; the Branch has always been recognized by the Governor as an excellent labor collective, awarded the Second Class Labor Medal by the President, and the Emulation Flag by the Prime Minister, the Governor of the State Bank, and the Chairman of the Provincial People's Committee; many collectives and individuals of the Branch have received Certificates of Merit from the Prime Minister, the Governor of the State Bank, and the Chairman of the Provincial People's Committee.

One of the noteworthy things is that cadres and party members are assured in their work and believe in the solidarity and consensus within the entire Party Committee. The Party Committee closely follows the goals and orientations of the Provincial Party Committee Resolution, the Resolution of the Provincial Party Committee of the Provincial Agencies, the directives of the Provincial People's Committee and the State Bank of Vietnam to effectively implement the goals and tasks of the sector and the agency for monetary, credit and banking activities in the area; maintain stable, safe operations, and good growth of the Nghe An Banking sector, effectively contribute to supporting economic growth in the province, contributing to achieving and exceeding the economic development targets set by the 17th Provincial Party Committee Resolution.

Ms. Nguyen Thu Thu, Director of the State Bank of Vietnam, Nghe An Branch, commented: Entering the 2015 - 2020 term, in addition to the favorable results from the previous term, the Party Committee is facing many new difficulties and challenges. This is the period when Nghe An province must have many breakthrough solutions to become an industrial province by 2020; the banking sector must continue to improve the quality of operations after the 2010 - 2015 restructuring period, enhance transparency and competitiveness in the region, while facing many risks and challenges as the market economy increasingly develops and integrates more deeply with the region and the world. The Party Committee needs to make more efforts, continue to innovate the methods of operation in building the Party organization and gathering Party members, creating a high level of solidarity and consensus in the process of performing tasks.

The goal for the entire 2015 - 2020 term is that the Provincial Party Committee of the State Bank of Vietnam will carry out and excellently complete the assigned political tasks. Every year, at least 30% of professional departments will achieve the title of "Excellent Labor Collective"; at least 15% of individuals will excellently complete their tasks. Every year, 50% of Party cells will achieve the title of "Clean and Strong Party Cell", 20% of Party cells will achieve the title of "Outstanding Clean and Strong Party Cell". Continue to maintain a clean and strong Party Cell and an outstandingly clean and strong Party Cell in the years of the new term.

Quynh Lan