Although the domestic economy has witnessed wide volatility and fierce competition in the past years, Agribank Binh Duong Branch has made great efforts to complete its assigned business plans to give a helping hand to local socioeconomic development. Ms Do Thi Mai Tuyen, Director of Agribank Binh Duong, said that the branch will strive to uphold the title “flagship of the entire Agribank system” and maintain its position as a leading commercial bank in the province. At the same time, the branch has also contributed to the process of industrialisation and modernisation of Binh Duong province. Quoc Hung reports.
It is known that, in recent years, especially in 2017, Agribank Binh Duong has developed very well. Could you please introduce its performance results?
As you know, in the past years, the economic volatility in addition to intense competition from 65 credit institutions in the province has become a huge challenge. However, the good news is that Agribank Binh Duong, with great effort, excellently completes its assigned business plans. The branch has grown steadily and stably in recent years. Specifically, deposits increased from more than VND15,200 billion in 2014 to more than VND20,100 billion in 2017, while outstanding loans rose from over VND9,800 billion to more than VND14,100 billion, respectively. Non-performing loans are very low, always below 0.1 per cent of total outstanding loans.
In particular, in 2017, by consistently carrying out solutions, expanding fundraising and credit growth, improving service quality and customer care, the branch’s business results were still very impressive. In 2017, its deposits expanded by 11.9 per cent and credit grew by 11.4 per cent. Bad debt was equal to 0.05 per cent of total outstanding loans.
The Binh Duong economy is constituted by different sectors. Industry, trade and construction are growing very rapidly and potentially. In such a context, how has Agribank Binh Duong been able to develop its products and services?
The Binh Duong economy has developed rapidly in recent years, which is an opportunity and a favourable condition for the province to develop financial and banking services. Therefore, we focus on providing business solutions, products and services to meet demands of local enterprises.
Specifically, we developed a well-prepared product and service development strategy, smoothly coordinated departments, branches and affiliates in synchronously launching new products and services. We are active in marketing products and services, consulting clients and developing appropriate policies for specific customer groups. We research integrated preferential products for international payment and foreign currency trading, especially branches with large-scale industrial zones. We step by step improve the effectiveness of promotion and marketing, and boost cross-sale of products to utilise existing products and services.
We also increased credit packages in couple with banking services and focused on credit financing for factory construction, purchasing machinery and equipment for production and investing activities. We particularly offered preferential interest rates for exporters, small and medium-sized enterprises (SMEs) and agricultural companies to facilitate effective business development.
To carry out the policies of the State Bank of Vietnam (SBV) on business - bank connection, Agribank Binh Duong has actively joined from the outset. We cooperated with SBV Binh Duong and the Provincial People’s Committee to take part in dialogues and tackle hardships against enterprises. As a result, over the past years, interest rate subsidies have been granted to 300 corporate clients of over VND1,000 billion.
Modernising banking services is a strategic step that banks are taking and using it as a competitive instrument. How has information technology been modernised and applied at Agribank Binh Duong?
Seeing that information technology modernisation and application is vital to modernising banking services and improving labour productivity, the Board of Directors has focused on equipping and accelerating IT application to operations and enhancing capacity management of the whole branch. The IT system is managed and operated according to security mechanism and continuously upgraded to ensure safe, convenient and rapid operation.
In addition, we are promoting the introduction of internet banking products such as Mobile Banking, Agribank E-Mobile Banking and Internet Banking applications for electronic tax payment. IT applications to customer services contribute to reducing processing time, quickly detecting errors and reducing risks.
Given its working results, could you please briefly tell us what objectives Agribank Binh Duong plans for 2018 and beyond?
We determined to uphold business results in 2017 and earlier. We will effectively utilise financial leverages, provide diverse products and selective investment credits, create breakthroughs and efforts to achieve goals and tasks in 2018, maintain the “Flagship of the whole Agribank system” title, and uphold its position as one of leading commercial banks in the province and contributing to local industrialisation and modernisation process.
Thank you very much!