Nghe An has 100 credit institutions in operation.

(Baonghean.vn) - Nghe An is considered a locality with a strong financial banking service system in the country.Currently, the network of credit institutions (CIs) in the area continues to be restructured.

The total number of credit institutions and credit institution branches in the whole area is currently 100 units, including 59 grassroots People's Credit Funds, 05 charitable one-member limited liability microfinance organizations; 13 State-owned commercial bank branches or those in which the State holds controlling shares, 19 joint-stock commercial bank branches and 01 joint-stock commercial bank headquarters, 01 Cooperative Bank branch, 01 Social Policy Bank branch of Nghe An province and 01 Nghe An Development Bank branch.

In addition, there are 21 limited operating branches dependent on the Level 1 Branch of the Bank for Agriculture and Rural Development, Nghe An Province Branch in districts and towns; 213 transaction offices (including 192 transaction offices of Commercial Bank Branches and 21 Level 1 transaction offices of the State Bank), 256 ATMs, 1046 POS, meeting the needs of deposits, loans and payments, money transfers, and withdrawals throughout the area.

Transaction at Vietcombank, Vinh City branch. Photo: TC

Since the beginning of the year, the mobilized capital of credit institutions and credit institution branches in the area is estimated at 104,482 billion VND, an increase of 11,888 billion VND compared to the beginning of the year, equal to 12.8%, higher than the growth rate of the whole country (11.75%).

Total outstanding debt in the area (excluding the Development Bank) is estimated at VND143,726 billion, an increase of VND18,964 billion compared to the beginning of the year, equal to 15.2%, higher than the growth rate of the whole country (13.01%). Total bad debt in the area (excluding the Development Bank) is VND1,143 billion, accounting for 0.8% of total outstanding debt, an increase of VND8 billion compared to the same period last year, equal to 0.7%.

The representative of the State Bank of Vietnam, Nghe An branch, said: Since the beginning of the year, 01 transaction office and 04 ATMs have been opened. Currently, the State Bank of Vietnam is continuing to monitor the implementation of the approved restructuring plan of credit institutions in the area, in which it instructs credit institutions to continue to develop and implement the contents of Decision 1058/QD-TTG dated July 19, 2017 of the Prime Minister approving the "Restructuring Project associated with bad debt settlement for the period 2016-2020" and the Action Plan of the banking sector to implement the Project./.

Tung Chi