Agribank Vinh Long: Helping Agribank Brand Go Further

5:07:28 PM | 30/7/2013

Over the years, Vinh Long Branch of the Vietnam Bank for Agriculture and Rural Development (Agribank Vinh Long) has managed to win the trust and satisfaction of customers. It not only serves socio-economic development of Vinh Long province, but also contributes to the shining of Agribank.
In 2012, Agribank Vinh Long performed well its tasks as directed by the Government on tightening monetary policy, stabilising the macro-economy, ensuring social security. The branch always strictly follows the policies of the Party, the Government; regulations of the State Bank on credit for agriculture, farmers and rural areas. With high determination, the entire staff of the branch managed to overcome difficulties to complete the tasks set for 2012.
The total mobilised capital as of 31st December 2012 was VND4,670 billion, up VND974 billion or a 26.3 percent rise, making up 108.8 percent of the plan. Revenues from credit operations in 2012 reached VND8,650 billion, up VND532 billion or a 6.5 percent increase over 2011. The branch mainly granted credit for agriculture and rural area projects. As of 31st December 2012, total credit was VND4,237 billion, up VND207 billion or a 5.4 percent rise over the beginning of 2012; making up 31 percent of total credit of entire commercial banks in the area.
Also in 2012, service revenue of the branch was VND13 billion, fulfilling 100 percent of the plan. Export - import revenues reached US$4 million. The branch also issued 117,800 cards, up 24,600 cards (+26 percent), of which ATM cards were 110,000, making up 94 percent of total issued cards.
In 2012, Agribank Vinh Long reduced credit interest rate for customers, which was highly appreciated by local authorities and customers. Since July 2012, the branch has reduced the previously agreed credit interest rate of over 15 percent per year to under 15 percent per year with the total discount of VND2,508 billion for 44,000 customers. Out of them, 315 enterprises had interest reduction of VND982 billion and 43,685 households and individuals received interest reduction of VND1,526 billion. And since 13th May 2013, the branched has continued reducing the interest rate to 13 percent per year (loans with interest rate higher than 13 percent reduced to 13 percent per year).
Along with efforts to reduce credit interest rates, Agribank Vinh Long also actively participated in investing in favourable credit programmes and policies in 2012. The branch invested mainly in agriculture and rural areas (about 85 percent of total credit). The branch always kept the leading position in investing in developing agriculture, farmers and rural areas. It also applied credit policies in compliance with Decree 41/2010/ND-CP, loan programmes according to Decision 63/2010/QD-TTg, credit supporting export. Moreover, the branch invested in many fields with favourable interest rate of under 11 percent like pig breeding, canned food of pork or poultry, feeding and purchasing catfishes for export. Credit to the end of the year is VND263 billion with 4,234 thousand customers, of which short term credit is VND261 billion, medium and long term credit is VND2 billion. VND short term credit for prioritized fields in compliance with Circular 14/2012/TT-NHNN dated on 4th May 2012 (no 10/2013/TT-NHNN dated 10th May 2013) with loans of VND3,752 billion, making up 88 percent of total credit with 26,600 customers.
Sharing about the direction in the future, Mr Nguyen Tan Thanh, Director of Agribank Vinh Long, said the branch has elaborated strategy to invest and develop sustainably, identify challenges and proper economic development trend according to each period of the province, apply flexible management mechanisms suitable with current economic conditions, create balance between capital mobilisation and utilization, as well as propose solutions based on practical, detailed schemes. Continues implementing prioritized credit policies as directed by the Government, the SBV and the banking system; implement timely and completely guideline of the Government, regulations of the sector, as well as elaborate appropriate solutions and direction.
Moreover, the branch will keep making effort to satisfy capital demand for agriculture, farmers and rural areas, especially small and medium enterprises, households planning and developing agriculture, and rural areas in the whole province, based on specific features of each area, to bring practical results.
Duc Binh