9:50:16 PM | 3/4/2013
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) set up its branch in Ninh Thuan province ( Vietcombank Ninh Thuan) in March 2011. In recent general economic volatility, Vietcombank Ninh Thuan has played an influential role in maintaining and sustaining the development of Ninh Thuan province.
Vietcombank Ninh Thuan introduced most banking services since its establishment. In addition to maintaining and strengthening relationships with traditional customers, the branch also actively approaches potential customers while deploying a variety of deposit products to meet up the needs of customers.
Being fully aware of the importance of capital mobilisation, Vietcombank Ninh Thuan has stepped up advertising to bring the Vietcombank brand name into full play, applied good customer policies, and developed diverse banking products. As of December 18, 2012, the branch had a total capital of VND284 billion, equal to 167 per cent of the plan set by Vietcombank. Mr Lam Hong Giap, Director of Vietcombank Ninh Thuan, said: "For the time being, deposit growth in Ninh Thuan province is about 25 per cent. Given an increasingly difficult business environment featuring intense competitive pressures, the branch’s deposit growth of 33 per cent was a great effort."
The outstanding success of Vietcombank Ninh Thuan results from effective application of flexible but prudent credit policy, which not only supports businesses to access capital sources in the time of economic slowdown, but also ensures the development and safety of the Vietcombank system. When the economy slows down and many businesses have to downsize their production and meet with financial difficulties, it is not easy at all to find good customers to provide credits. Credit growth was 18 per cent in 2012 in the province of Ninh Thuan, but Vietcombank Ninh Thuan’s outstanding loans soared 62 per cent against 2011 to VND450 billion in 2012. The impressive results came from the effort of the branch in searching and approaching new customers and the timely deployment of interest rate subsidy policies advocated by Vietcombank. In addition, the branch also enhanced credit quality, effectively applied customer care policies, and worked closely with enterprises to overcome difficulties in the crisis period.
Especially, to limit bad debt, Vietcombank Ninh Thuan proactively reviews loans to take back overdue loans, restructures business portfolios, increases lending to advantageous sectors of the province, and restricts lending to sensitive, risky sectors. As of December 18, 2012, the branch’s nonperforming loan (NPL) ratio was 0.21 per cent. Particularly, the branch also focused on the retail market and applied electronic banking services.
Besides business operations, Vietcombank Ninh Thuan actively takes part in social welfare and community-centred activities like building charity houses, supporting pro-poor funds, providing relief aid to flood victims, and assisting families with great recognised sacrifice and contribution to the revolutionary cause.
In 2013, Vietcombank Ninh Thuan will closely follow Vietcombank’s policies on credit growth and review loans granted to highly risky fields to have suitable response policies. The branch is determined to fulfil and exceed all the targets assigned by Vietcombank such as deposit and credit growth, bad debt reduction, and credit product introduction. It will also step up the development of retail banking services, maintain and expand the market shares in card payment and foreign exchange. It will also work out programmes and projects for involvement in social security and new countryside construction in Ninh Thuan province.