The banking sector contributes to socio-economic stability and supports economic growth of Nghe An.

PV DNUM_DBZBCZCACC 15:59

(Baonghean.vn) - Under the direction of the Central Bank, local Party committees and authorities, and all levels and sectors; especially the efforts of cadres and employees, the banking sector in Nghe An has successfully completed its tasks, contributing to stabilizing the socio-economy and supporting the province's economic growth.

Leaders of the State Bank of Vietnam, Nghe An Branch, inspect the implementation of the Interest Rate Support Program according to Decree 31-2022 ND-CP. Photo: PV

Promoting the development of banking services and supporting economic development after the Covid-19 pandemic

In leading and directing credit institutions and credit institution branches to strengthen digital transformation and continue to promote non-cash payments, the State Bank of Vietnam, Nghe An Branch, has advised the Provincial People's Committee to issue a Plan to implement the Non-cash Payment Project in the province for the period 2021 - 2025. Promote payments via banks for public services such as education, healthcare, payment of fees and charges for public administrative services on the public service portal of the province's electronic one-stop system connected to the National Public Service Portal...

Coordinate with the Provincial Police in directing and implementing the contents of Plan No. 771/KH-UBND dated November 7, 2022 of the Provincial People's Committee on implementing a number of key tasks of Project 06 of the Government in Nghe An. Implement the National Financial Inclusion Strategy (with the goal of all people and businesses having safe and convenient access to and use of financial products and services that suit their needs, at reasonable costs, provided by licensed organizations in a responsible and sustainable manner).

The banking industry always promptly provides capital for customers in Nghe An. Photo: HV

Removing difficulties for customers affected by the Covid-19 epidemic, facilitating businesses and people in accessing bank capital. Actively implementing the 2% interest rate support loan program according to Decree 31/2022/ND-CP and Circular 03/2022/TT-NHNN; Up to now, the loan turnover with interest rate support in the area is more than 142 billion VND at 7 commercial bank branches. The Provincial Social Policy Bank continues to effectively implement preferential lending policies in the area, especially for lending to preferential programs using loan capital according to Resolution 11/NQ-CP.

Credit institutions and credit institution branches in the province have actively restructured debt repayment terms, waived and reduced interest rates for customers affected by the Covid-19 epidemic, contributing to solving temporary difficulties for customers, helping customers stabilize production and business, creating revenue to repay debts to banks. Accumulated from March 13, 2020 to June 30, 2022, debt repayment terms have been restructured and debt groups have been maintained for 3,276 customers with a total debt value of VND 4,348 billion; loan interest rates have been waived, reduced and lowered for 183,575 customers with a total debt value of VND 116,988 billion, the amount of interest exempted and reduced is VND 360 billion.

Strengthening management

In recent times, the State Bank of Vietnam, Nghe An Branch has promptly advised local Party committees and authorities to strengthen inter-sectoral coordination to strengthen the management of the banking sector and effectively implement solutions to recover bad debts. Strengthen inspection and examination of units; at the same time, direct the improvement of the quality of internal inspection and control work to promptly and seriously detect, prevent and handle existing problems and violations, ensure that units strictly comply with legal regulations, minimize the increase of bad debts; and promote the fight against crimes in the banking sector.

Banking industry participates in the 2022 Financial Services - Banking Connection Conference. Photo: PV

Strengthen the management of People's Credit Funds, direct People's Credit Funds to summarize the implementation of the restructuring plan for the period 2016 - 2020, develop a restructuring project associated with handling bad debts of People's Credit Funds for the period 2021 - 2025; promote digital transformation in the People's Credit Fund system through opening cards and accounts through the Cooperative Bank; at the same time, strengthen the direction of personnel work, promote inspection, examination, and closely monitor the handling of post-inspection and examination; strictly implement the transition roadmap according to Circular 21/2019/TT-NHNN, ensuring that the People's Credit Fund system in the area operates stably, safely, and healthily in accordance with the principles and purposes of the People's Credit Fund as a cooperative credit institution.

Nghe An is always in the top of the country in terms of mobilization and outstanding loans (in 2022, Nghe An is expected to be the leading province in the North Central region in both mobilization and outstanding loans; ranked 7th in the country in capital mobilization and ranked 5th in outstanding loans). By November 30, 2022, the total outstanding loans and mobilization of credit institutions and credit institution branches in the area increased by 11.7% and 8.5% respectively, higher than the same period in 2021; the bad debt ratio is always maintained at a safe level of below 1%.

State Bank of Vietnam, Nghe An Branch and Agribank, Nghe An Province presented 9 computers to Van Loi Primary School. Photo: Le Thanh.

In order to operate effectively in the coming time, closely following the general direction of the industry and the province, the banking sector in Nghe An continues to increase capital mobilization and expand credit investment in a safe, effective and sustainable manner, prioritizing credit in production sectors and priority sectors; strictly controlling credit in potentially risky sectors; focusing on the contents of the Socio-Economic Recovery and Development Program according to Resolution 11/NQ-CP of the Government such as the 2% interest rate support program; effectively implementing foreign exchange management and gold trading activities in the area; promoting digital transformation, developing non-cash payments; implementing the National Financial Inclusion Strategy; improving the effectiveness and efficiency of inspection, supervision, prevention and control of violations of the law in the banking sector; promoting administrative reform to contribute to improving the business environment in the monetary and banking sector; Linking the growth of banking activities with the goals and tasks of socio-economic development of the province; deploying types of services to exploit the economic potentials and strengths of the province, effectively supporting the economic growth of the locality; striving to achieve good growth in mobilized capital and outstanding loans, controlling the ratio of bad debt to total outstanding loans below the permitted level.

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The banking sector contributes to socio-economic stability and supports economic growth of Nghe An.
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