As a leading and experienced bank, Agribank Lam Dong, set up 29 years ago, has consistently supported Lam Dong province on the path to industrialisation and modernisation and affirmed its leading role in carrying out credit policies for agriculture, farmers and rural areas in the province.
Agribank Lam Dong is a top commercial bank by scale, network, market share and customer base in Lam Dong province. In recent years, although the banking system has faced certain operating hardships, with the spirit of unity and resolution of all the staff, Agribank Lam Dong has managed to achieve outstanding results.
As of April 30, 2117, the branch mobilised VND7,199 billion, an increase of VND422 billion from the start of the year and 6.23 per cent higher than a year earlier and lent VND9,277 billion, an increase of VND602 billion from the beginning of the year and 6.94 per cent higher than a year ago. In credit investment, Agribank Lam Dong always takes the lead in implementing policies and resolutions of the Party, the Government and the State Bank of Vietnam (SBV), and closely follows socio-economic development orientation. The branch lent VND7,294 billion to over 27,000 customers in the rural areas according to Decree 55/2010/ND-CP, and VND5,349 billion to 20,316 customers for new rural construction. It provided VND237 billion of loans for over 2,000 customers to revitalise coffee crops, VND1,604 billion for 3,508 customers to invest in hi-tech agricultural application, VND72 billion for 260 customers to buy social housing, and VND750 billion for 55 companies according to bank - business connection programme.
Apart from preferential interest rates, Agribank Lam Dong also focuses on simplifying borrowing formalities and shortening loan appraisal time to ease credit access to borrowers; carries out a lot of solutions to support customers to deal with difficulties by reducing interest rates, rescheduling repayment period, granting extra loans for completing projects to seek sources for repayment, flexibly using collateral assets; and providing unsecured loans under Decree 55/ND-CP of the Government.
High efficiency from monetary and credit policies
To create momentum for local socio-economic development, Agribank Lam Dong always performs well directions of the Provincial Party Committee, the Provincial People's Committee, the State Bank of Vietnam and Agribank in carrying out monetary and credit policies to serve local economic development. Accordingly, the branch propagated, communicated and applied preferential loan packages for enterprises engaged in agriculture, rural areas, export, supporting industries, small and medium enterprises (SMEs), hi-tech applying companies, and enterprises joining production chains. It also funded organic agricultural production.
In order to successfully enforce the cooperation agreement between Agribank and the Lam Dong Provincial People’s Committee, Agribank Lam Dong has launched many credit programmes for local socio-economic development and achieved high efficiency. The branch signed cooperation agreements with the Farmers' Association, the Women's Union, the Lam Dong Cooperative Alliance and provincial and local authorities to apply credit policies, banking products and services for customers.
So far, the coordination and execution of monetary and credit policies has brought about encouraging results for Agribank Lam Dong, evidenced by annual credit and deposit growth of 15 per cent or higher and non-performing loan ratio lower than regulated. More importantly, its performances played a significant role in promoting socio-economic development of Lam Dong province whose GDP growth is about 9 per cent a year, economic structure is shifted towards the right direction, per capita income increases, poverty rate falls, infrastructure is better, many economic models are working well, and new rural development programme produces good results (the province has one district and 58 communes meet new rural standards).
Mr Nguyen Xuan Hoa, Director of Agribank Lam Dong, said, Agribank is developing and changing to achieve all targets it has set and to affirm its roles as the biggest commercial bank in the credit institution system in Vietnam. The lender has made positive contributions to the country's economy, especially the agricultural sector, rural areas and farmers. To realise this great mission, Agribank needs the engagement of all branches, including Agribank Lam Dong. He stressed, “In the face of global integration trends and new market economy challenges, Agribank in general and Agribank Lam Dong in particular is continuing to renovate comprehensively, improve the credit mechanism, develop banking products and services, modernise service style, uplift Agribank corporate culture, and fund a clean and sustainable agricultural development for Vietnam, and for the world as a whole.”