Vietcombank Trung Do Bank (Vinh City): Fast, safe and sustainable growth

(Baonghean) - Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) - Trung Do Branch (Vinh City) was established in 2011. Established at a time when the economy was in recession and competition in the banking sector was increasingly fierce, the Branch encountered many difficulties in finding a foothold. However, with the timely and effective support of Joint Stock Commercial Bank for Foreign Trade of Vietnam and the facilitation of the province, especially the Party Committee of the Enterprise Bloc, VCB Trung Do Branch has gradually overcome difficulties, completed business tasks and gradually affirmed the reputation and brand of a leading commercial bank in the area.

To achieve the above positive changes, immediately after establishing the Branch, on the basis of grasping the situation, VCB Trung Do Party Cell built a Resolution for the 2012 - 2015 term with policies and implementation solutions suitable to the unit's situation; encouraged the Branch's cadres, party members and employees to unite, uphold the sense of responsibility, overcome difficulties to successfully complete the plans and tasks set out.

Customers transact at Vietcombank Trung Do Head Office. Photo: VH

In the field of capital mobilization and credit balance, VCB Trung Do promptly issued mobilization interest rate schedules and mobilization products suitable to the market; focused on improving customer service quality; proactively approached customers who were organizations with good financial capacity and idle capital to mobilize. Thanks to that, after more than 3 years of operation, the total mobilized capital of the Branch reached 960 billion VND, an average increase of 82.7% / year and far exceeding the target set by the Congress resolution of 25% / year.

Regarding credit balance, VCB Trung Do closely follows the State Bank's directives and the province's economic development orientation and plans to lend and expand credit investment for economic sectors on the principle of "safety and efficiency". Thanks to that, despite being affected by inflation and economic recession, the Branch's credit balance still grows year after year higher than the previous year and ensures capital safety. After more than 3 years, the Branch's credit balance is 962 billion VND; an average increase of 24.2%/year, exceeding the target set by the Party Congress resolution of 20%/year.

To ensure the rights of workers, every year the Party Cell coordinates with the Board of Directors and the Branch's Trade Union to perfect the organizational model, build policies and guidelines suitable to the unit's conditions and ensure the rights of workers according to regulations. In addition to ensuring income for workers of 9 million VND/person/month, the unit fully complies with the insurance regime for workers according to regulations. The Branch also fulfills its social responsibility, annually allocating a part of the welfare fund and mobilizing employees to contribute to charity and humanitarian funds. In 3 years, the total amount of funding for social security programs reached over 800 million VND. Of which, the funding programs for Chau Phong commune, Quy Chau district according to Decision 1310 dated April 20, 2012 of the People's Committee of Nghe An province is over 400 million VND with essential projects such as clean water, health care, education, charity houses... which have been effective in the area.

One of the priorities and concerns of the Party Cell is to well implement the grassroots democracy regulations; fully disseminate the regulations on grassroots democracy regulations to Party members and employees in accordance with the characteristics and conditions of the Banking industry and the Branch; annually organize the signing of Collective Labor Agreements, organize full Labor Conferences; promptly dialogue and resolve issues arising between employees and employers in accordance with current laws and collective labor agreements... The Party Cell also pays special attention to political and ideological education; fully and promptly deploy the contents of Party directives and resolutions and State laws to Party members and employees.

Maintain and promote the ethics and style of bank staff, the tradition of staff of the Joint Stock Commercial Bank for Foreign Trade of Vietnam. Periodically, the Party Cell coordinates with the Board of Directors to review and organize the apparatus of departments and divisions, ensuring that the professional apparatus operates reasonably and with the highest efficiency. Regularly take care of training the staff of the Branch, considering this a key step in determining the success of business activities. Up to now, although the Party Cell has only 14 party members, all departments/divisions/teams have party members; party members are truly exemplary and active in performing professional tasks....

In the 2015 - 2020 term, the Party Cell of VCB Trung Do Branch determined to focus on enhancing the leadership role of organizations; strongly innovating the leadership, direction and management methods to effectively exploit the potential and advantages of the Branch. Along with effectively implementing the work of mobilizing capital sources, especially medium and long-term capital sources to serve economic development, it is necessary to expand lending to economic sectors on the basis of ensuring the principle of "safety and efficiency", focusing on lending to customers who are small and medium enterprises, individual customers; expanding the business network, diversifying banking products and services to meet the increasing needs of customers and international integration; building a friendly bank image for customers....

The branch aims to strive for an annual capital mobilization growth of 15-20% throughout the term; an annual credit growth rate of 15-20%. Along with taking care of the lives, ensuring the rights and incomes of staff and workers and fulfilling obligations to the budget; the Party Cell and organizations of Vietcombank Trung Do must be ranked strong or higher. To realize the above targets, immediately after the Congress, the VCB Trung Do Party Cell will focus on leading the excellent completion of assigned political tasks in the direction of "acceleration - efficiency - sustainability"; continue to effectively implement regulations on democratic regulations in enterprises; link business efficiency with social policy care; regularly educate political and ideological cadres and party members; innovate and improve the quality of party cell and party member activities; strengthen inspection and supervision work as well as care for and foster the team of cadres and party development...

Based on the achieved results and lessons learned from practical leadership and direction, the Party Cell of the Joint Stock Commercial Bank for Foreign Trade of Vietnam - Trung Do Branch will continue to develop the unit in the right direction, exploiting its potential and advantages to contribute more positively to the socio-economic development of the province.

Le Hong Quang

(Director of VCB Trung Do Branch)