Vietinbank Phu Tho: Strong Brand Confirmed

5:06:23 PM | 3/1/2013

In recent years, Phu Tho province has worked out many open mechanisms and policies to attract investment and positively support businesses. In addition, there is the companion of the banking system in the province, especially the Vietnam Joint Stock Commercial Bank for Industry and Trade, Phu Tho Branch (Vietinbank Phu Tho). The bank always works together for socio-economic development of the locality, becoming a financially solid fulcrum for people and businesses to invest in the province.
In Phu Tho province, Vietinbank Phu Tho has maintained its reputation as a good credit institution, playing the role of investment pioneer in the development and implementation of modern banking products and services. The bank always cooperates closely, shares problems and opportunities with local government customers; creates conditions for investors and businesses to quickly access bank credit for development and overcome difficulties in the production process.
Over the recent 5 years, Vietinbank Phu Tho has made dramatic progress, especially in raising capital mobilization with an increase of three times. The capital, in 2009 only VND700 billion, rose to VND2.2 trillion as of November 2012.
Sharing with customers in difficult economic conditions, since early 2012 the branch has continued to lower interest rates for loans in VND: Short-term loans from 17.5 percent to 12.5 percent / year, and medium term from 21.5 percent to 15 percent / year. Recently, the Vietinbank Phu Tho focused on improving credit quality and settled overdue debt with positive results. Total bad debt by November 30th 2012 was VND5.7 billion, accounting for 0.3 percent of total outstanding loans. The branch classified customers, determined the cause of overdue debts of the business, and applied measures beneficial to customers such as debt restructuring or adjusting the repayment period, tackling difficulties and stabilizing production.
Besides, Vietinbank Phu Tho also focuses on training and improving the qualification of human resources, to ensure their staff having adequate ability to meet the needs of each job position. At the same time, it implements a generous human resources policy. Along with that, the branch positively adds products and services to better serve customers. Its network is expanded with Head Office and 9 transaction offices to pro-actively approach potential customers and effective business, thereby strengthening traditional customers, collecting information and assessing new clients to develop immediate and long-term relationships.
In parallel with efforts to provide comprehensive financial solutions suitable for businesspeople and the community, social welfare is always paid due attention by Vietinbank Phu Tho. Mr Nguyen Tien Dung, Director of Vietinbank Phu Tho said: "Social welfare comes from the mind: we always attach importance to the sustainability of the community, being willing to share the difficulties and losses of the community; simultaneously caring about social work, and accompanying local development through regular participation in community activities in the province such as: sharing difficulties with social policy people, serving heroic Vietnamese mothers, financing 8 kindergartens, replacing temporary houses, building memorial to heroic martyrs of the province, and contributing to the promotion of education foundations, all of which leaves a good impression in the hearts of people.”
According to Director Dung, to further improve competitiveness and attract foreign and domestic investment in capital, modern production technology, and advanced management experience, the branch hopes that the functional agencies will pay due attention and put further efforts into creating a favourable business environment; satisfactorily and quickly resolve administrative procedures related to investment and business activities of the enterprises. He confirmed that Vietinbank Phu Tho commits to work together and joins hands with other departments to share and accompany businesses and investors in the locality to build an increasingly prosperous homeland.
Tran Tung