Bank for Agriculture and Rural Development, Do Luong Branch - a bridge for rural economic development

(Baonghean) -Over the years, the Bank for Agriculture and Rural Development, Do Luong District Branch, has persistently followed the local socio-economic development goals, the direction of all levels and sectors, had appropriate business solutions, and the right direction, becoming a trusted address accompanying the people in economic development.

The staff of the bank branch is standardized to meet customer service needs. Photo: Luong Mai

The Do Luong Branch of the Bank for Agriculture and Rural Development is a subsidiary of the Provincial Bank for Agriculture and Rural Development, established under Decision No. 53 of the Council of Ministers (1988) and Official Dispatch No. 91 of the Provincial Bank for Agriculture and Rural Development. During 30 years of operation, the Branch has always been aware of its role and responsibility, focusing all resources on investing in socio-economic development, rising to become one of the large, branded banks in the district.

Do Luong is a district where the majority of people's lives depend mainly on livestock and crop farming. The Bank for Agriculture and Rural Development, Do Luong District Branch is a commercial bank, which must both implement the financial contracting mechanism in business and carry out the political task of meeting the capital needs for production of farmers in the whole district. Implementing the policies and guidelines of the Party and the State, and the attention of local authorities at all levels, the Branch always persistently orients its business activities towards agriculture and rural areas, expanding investment in urban areas.

Mr. Le Xuan Hung - Deputy Director of the Bank for Agriculture and Rural Development, Do Luong District Branch, said: With the motto of "borrowing to lend", taking economic efficiency and profit goals as the main measures in business, the Branch has proposed a system of many practical and specific solutions such as creating all conditions and utilities for customers, accelerating the modernization of banking technology, simplifying loan application procedures, changing service style with the aim of maximizing idle capital from all classes of people, best serving the economic - political tasks in the locality, contributing to hunger eradication and poverty reduction in the area.

The mixed livestock farm of Mr. Le Tien Bay, Dang Son commune (Do Luong) got rich from borrowed capital. Photo: Luong Mai

Capital mobilization by the end of 2016 achieved many positive results compared to the beginning of the year. Total mobilized capital reached 1,800 billion VND, an increase of 280 billion VND compared to the beginning of the year, a growth rate of 19%. Loan turnover reached 1,790 billion VND, an increase of 190 billion VND, a growth rate of 12%. In addition, debt collection turnover reached 1,600 billion VND, an increase of 150 billion VND compared to the previous year, a growth rate of 10.3%. Total outstanding loans reached 10,444 customers with an amount of 1,260 billion VND, an increase of 190 billion VND compared to the beginning of the year, a growth rate of 18%. Outstanding loans by economic sector basically increased compared to the beginning of the year. Specifically, outstanding loans for agriculture, forestry and fishery reached 625 billion VND, an increase of 127 billion VND, a growth rate of 25%, outstanding commercial loans reached 330 billion VND, an increase of 30 billion VND compared to the beginning of the year, a growth rate of 9%. Outstanding loans for services, transportation, industry and consumption all increased by 13-20% compared to the beginning of the year.

The investment program and loan support policy to reduce losses in agriculture under Decision 68 (2013) of the Prime Minister have achieved many good results. The branch has coordinated with the Department of Agriculture and Rural Development of the district, the People's Committees of the communes to organize propaganda to the hamlets and communes so that all people know the policies on loans and the borrowers who are supported with interest rates. Through that, the loan program to buy tractors and combine harvesters has reached an outstanding debt of over 47 billion VND with 311 customers. All customers who borrowed capital have done business effectively, paying the principal on time as prescribed. Typically, the households of Mr. Hoang Van Huong, Nguyen Van Cuong, Hoang Van Hai - Hamlet 1, Xuan Son Commune, Dao Danh Huy - Hamlet 7, Dong Son Commune, Ms. Ho Thi Huong - Yen Minh Hamlet, Yen Son Commune have a stable income of 150 - 250 million VND/year.

As one of the banks playing an important role in providing capital to businesses and people in the district, the Branch has become a trusted address, accompanying farmers in investing and expanding production and business effectively. The loan program for business customers in towns and communes has attracted more than 1,200 customers with outstanding loans reaching 330 billion VND.

Typical customers include Hung Nguyen Private Enterprise - Luu Son Commune; Nguyen Thai Nham - Yen Son Commune, Quach Dao Hai, Nguyen Thi Ly - Do Luong Town. The loan programs help the locality shift its economic structure, change the structure of crops and livestock, create jobs, over 80% of customers strive to become rich legitimately in their hometown.

The farm model of Mr. Nguyen Thai Hung - Van Son commune - Do Luong effectively promotes the loan capital from the agricultural bank from Do Luong branch. Photo: Luong Mai

To achieve positive results, the Bank for Agriculture and Rural Development, Do Luong District Branch always closely follows the operating area and the annual economic development orientation of the locality to deploy appropriate loans. In particular, focusing on credit investment for agricultural economic development projects, livestock farms, and highly effective production and business models. The branch also focuses on investing in farmers to apply scientific and technical advances in livestock and agriculture, prioritizing medium-term capital investment in facilities and services providing materials for agricultural production, small-scale industry, building livestock barns, purchasing machinery for agriculture, etc.

From the achieved results, in the coming time, the Branch will focus on promoting mobilization solutions to increase capital sources, consolidate and increase market share, focus on prioritizing loans for agriculture, rural areas and farmers to ensure that 100% of customers who are eligible for loans and have loan needs are fully and promptly met with capital. In addition, strengthen inspection work before, during and after loans, closely monitor the process of using loans to further improve capital efficiency so that the Branch can truly be a companion with farmers in economic development, building new rural areas, contributing to the development of the district...

Luong Mai