Nghe An Agricultural Bank: Key player in agricultural and rural credit

(Baonghean) - Nghe An Agricultural Bank (Agribank Nghe An) is a member of the Vietnam Bank for Agriculture. By the end of 2014, the unit had 984 employees; its business organization includes: Head office, 21 district, town and city banks and 47 inter-ward and commune transaction offices under district, town and city banks.

The Party Committee of Nghe An Agricultural Bank Office has 9 subordinate Party cells, 85 Party members, and 9 Party Committee members. In the Party Committee, the professional and mass organizations always have high solidarity and consensus, coordinating to lead and direct business activities smoothly and stably.

During the 2010-2015 term, the branch's mobilized capital grew by an average of 21.88% per year, achieving the high target set by the 7th Congress (increasing by 20-22%). By December 31, 2014, the total mobilized capital reached VND 15,683 billion, an increase of 117.88% compared to the beginning of the term. Loan turnover in 5 years reached VND 55,944 billion (medium-term loans VND 12,229 billion), outstanding loans by December 31, 2014 were VND 12,656 billion (of which investment in agriculture and rural areas accounted for more than 89% of total outstanding loans, with 132,000 customers being production households receiving loans), an increase of 118.32% compared to the beginning of the term. Average credit growth rate of 21.36%/year, exceeding the target of the 7th Congress (increase from 15 - 17%).

Mr. Nguyen Huy Tien's chicken farm in Hung Tien commune (Hung Nguyen) effectively uses loans from the Agricultural Bank.

To support customers in overcoming difficulties, the Branch has reviewed and restructured debts, actively handling bad debts. Debt restructuring has been implemented for 1,184 customers with a restructured debt balance of VND 565 billion; interest rate exemption and reduction for customers whose business operations had to handle assets to recover debts of VND 741 million due to losses and proactively reducing (adjusting interest rates) for customers with a total interest of VND 122 billion to help customers reduce financial difficulties, continue to maintain or expand production and business to increase their ability to repay bank loans.

During the term, over 131 billion VND was invested in basic construction, 26 projects were put into use (including 8 transformer stations), and over 15 billion VND was purchased (replaced) for computer systems and IT equipment to serve business activities.

Also during the term, the Party Committee led the implementation of political tasks and effective business activities, thus creating enough regular and stable jobs for workers. Social insurance, health insurance, and unemployment insurance policies were well implemented. Policies for workers when they retire, medical examination and treatment... were fully resolved. The average income of workers reached 10 million VND/month, exceeding the congress target (5.5-6.0 million VND/person/month). From there, cadres and employees had the opportunity to actively respond and participate in contributing to charity funds and social security programs with a total amount of over 13,723 billion VND during the term; along with support from the Bank for Agriculture of Vietnam, it supported the construction of Truong Bon Historical Site with 5.5 billion VND. Most of the projects sponsored by Agribank have been completed and put into effective use, contributing to reducing difficulties for people in poor districts of the province...

To achieve higher efficiency in business, the Party Committee regularly pays attention to political and ideological education; cadres and party members have strong political will, actively practice and cultivate morality and qualities, have a pure, healthy and simple lifestyle; many comrades are honored as emulation fighters throughout the term.

Entering the 2015 - 2020 term, the entire Party Committee is determined to strive to achieve and exceed the basic targets set, making the activities of Nghe An Agricultural Bank increasingly develop; making important contributions to the socio-economic development of the locality. The capital mobilization target in 2015 is 16,600 billion VND, the average growth in the 2015 - 2020 term is estimated at 11% - 13%. Credit investment is 14,216 billion VND, the average growth in the 2015 - 2020 term is estimated at 10% - 12%.

Customers transact at Nghe An Agricultural Bank

Comrade Phan Duc Tien, Party Secretary, Director of Agribank Nghe An affirmed: The activities of the Agricultural Bank will continue to innovate, increase investment in facilities and technological equipment to make business operations more and more effective, contributing to the successful implementation of Resolution No. 26-NQ/TW of the Politburo "On the direction and tasks of developing Nghe An province to 2020"; maintain the title of "Typical clean and strong Party Committee", strong unions, build Nghe An Agricultural Bank Branch to become the leading bank in the area.

The branch continues to prioritize capital and interest rates for agricultural and rural loans, production and export loans, loans for small and medium enterprises and other areas that promote the province's potential strengths. Proactively invest in innovation and application of modern technology in the banking sector; diversify types of services to meet the increasing needs of customers and international integration requirements; survey to install more ATMs at convenient locations, increase the development of card payment acceptance facilities in restaurants, hotels, shopping centers, etc. to encourage non-cash payments; expand loans for living, debt repayment through salary, loans for home purchase, house construction, installment car loans, etc.

With a Party Committee with a long tradition, potential and many advantages, with the trust and attention of the Provincial Party Committee, the Provincial People's Committee, the Party Committee of the Enterprise Bloc, and the employees in the Branch, entering the new term, each cadre and Party member upholds the spirit of pioneering and setting an example, uniting to overcome difficulties, taking advantage of opportunities and promoting potentials, building the Party Committee and the Agribank Nghe An Branch to develop strongly and sustainably, contributing positively to the implementation of the task of socio-economic development of the province.

Quynh Lan