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Finance & Banking

Last updated: Tuesday, November 21, 2017

 

“Upholding Position and Support for Da Nang Development”

Posted: Monday, October 30, 2017


This is an affirmation by Mr Le Diep, Director of Vietcombank Da Nang, at his interview granted to our reporter. Indeed, during its 42 years of construction and development, Vietcombank Da Nang has maintained a constant growth to lead the industry in the city, support thousands of enterprises and have significant contributions to local socioeconomic development. Quoc Hung reports.

Self-affirmation

Vietcombank Da Nang has made very long strides in the course of 42 years of construction and development. How have its successes been expressed?
As one of the first banks in Da Nang City, a big bank, a prestigious brand with the slogan “Mutual trust, sustainable future”, Vietcombank Da Nang always asserts its position in customers’ hearts and reaped many important achievements.

Capital mobilisation is one of key tasks of Vietcombank Da Nang. The lender has actively diversified its products, flexibly applied its customer policies, developed more new, modern and convenient deposit services. Thus, in 10 years (2006 - 2016), its mobilised capital value increased six times, from VND1,322 billion to VND7,813 billion. And, with the motto of diversifying clients and portfolios, Vietcombank Da Nang offered its loans to all economic sectors, boosted loans for all sectors like tourism, service, trade, industry, seafood processing and electricity. The credit growth was 29 per cent annually in the last 10 years. Bad debt was always kept at just 0.62 per cent, far below the allowed level.

Vietcombank is a top bank of import and export payment, international payment and retail banking. How have these strengths been promoted by Vietcombank Da Nang?
As for import and export payment, with its outstanding brand name, technology, customer support policy, personnel and perfect services, Vietcombank Da Nang has always been a top foreign exchange bank in the city. The value of export and import payment via Vietcombank Da Nang is on the rise year after year. The branch accounts for 26 - 46 per cent of import-export payment market share, the largest in the province.

As for the retail sector, Vietcombank Da Nang is one of leading commercial lenders in the city in providing modern retail products and services, especially card issuance and payment. In 2016, credit card payment value reached VND3,265 billion, up 31.7 per cent over 2015 and 11 times over 2006. Card products and services meet maximum demands of customers.

By the side of the city

From its successes and performances, how has Vietcombank Da Nang contributed and supported the city’s economy?
Enterprises of Vietnam in general and of Da Nang City in particular are hurt by domestic and global economic fluctuations. By understanding their hardships, the bank has sided with them to live through tough times with flexible exchange policies and pioneering rate cut policies for them with flexible interest rates.

Projects financed by Vietcombank Da Nang have promoted their performances and significantly contributed to the development of Da Nang City and neighbouring provinces. Such projects include Indochina Riverside Tower, Hyatt Regency Da Nang Resort and Spa, Quang Tho Seafood Processing Factory, Viet Italy Tapioca Processing Plant, An Dien Hydropower Plant and Tam Ky Bypass. The good performance of these projects has helped boost the branch’s credit growth. Its credit quality is seen best in the city, vividly evidenced by the effective cooperation between Vietcombank Da Nang and the business community.

In addition to financing economic activities, what efforts has Vietcombank Da Nang made to support Da Nang City’s socioeconomic development?
Besides financing economic development, Vietcombank Da Nang has actively supported the city in social security and culture. For many years, Vietcombank has been the Gold Sponsor or Diamond Sponsor for Da Nang International Fireworks Show with the amount of VND2-3 billion a year. It funded the purchase of 20 radiotherapy machines for Da Nang Cancer Hospital, donated VND2.2 billion to Hoa Phuoc kindergartens, built and presented dozens of charitable houses, paid charitable visits and gave gifts to poor families, delivered relief to disaster victims, Coast Guard, and fishery authorities, took care of Vietnamese heroic mothers, and donated money to poverty funds and others.

How will Vietcombank Da Nang orient its development to continue to side with the city’s development in the coming years?
The general objective of Da Nang socioeconomic development plan to 2020 is continuing to build Da Nang into a major metropolis of the country, a socioeconomic centre of the central region, and a post, telecom, financial and banking centre of the nation. Hence, Vietcombank Da Nang has worked out operating plans to match with local development objectives to more closely accompany the city on the development path.








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