Banking Industry: Endeavor to Spur Economic Growth

2:52:26 PM | 22/9/2022

Having been established for 25 years, the banking system of Ca Mau province has always been stable, solid and healthy, contributing to provincial development, especially the marine economy, gardening economy and aquaculture.

Mr. Vo Kien Giang - Deputy Director in charge of SBV Ca Mau 

According to Mr. Vo Kien Giang, Deputy Director of the State Bank of Vietnam (SBV) Ca Mau Provincial Branch, currently, in the province, there are 26 branches of commercial banks, the Bank for Social Policies, Vietnam Development Bank and two People's Credit Funds

As of June 30, 2022, the total mobilized capital in the locality reached VND37,524 billion, up 10.2% compared to the beginning of the year; total outstanding loans reached VND59,658 billion, up 8.6% compared to the beginning of the year (of which the balance of medium and long-term loans reached VND21,870 billion, up 4.8% compared to the beginning of the year), bad debts of commercial banks have accounted for 1.30%. Locally mobilized capital meets 62.90% of the total loan balance.

This is a great effort of the local banking industry to provide capital for local business development and contribute to increasing budget revenue for the province.

The banking industry is oriented to build a banking system strong enough to meet the capital needs of the province, especially the key economic sectors of the province such as mining, farming, processing seafood processing, agriculture and related service activities.

In addition, over the past time, commercial banks have applied information technology to diversify forms of capital mobilization and lending with convenient banking products for businesses and residents. They also apply banking utilities in payment transactions such as transactions via the internet and mobile banking, payment via POS, e-wallet, and payment via QR Code. In the province, there are 441 points accepting card payments with 533 POS machines to ensure smooth and safe transactions.

Commercial banks are also promoting the provision of non-banking services such as paying electricity and water bills, prepaid phone top-ups, buying airline tickets, and booking car tickets.

Mr. Vo Kien Giang said SBV Ca Mau has issued a document to implement Decision 1813/QD-TTg on non-cash payments to provincial departments, agencies, and district People's Committees of Ca Mau province. In the near future, the Department of Health and the Department of Education and Training will gradually apply non-cash payments such as payments via POS, e-wallet, and payment via QR codes.

Source: Vietnam Business Forum