2:39:29 PM | 28/3/2007
In recent years, banking activities in Binh Duong have contributed significantly to socio-economic development. Credit organizations have applied flexible policies and measures to meet business development capital demand, as well as advancing services to facilitate payments and transactions.
Mr Bui Van Nu, Director of Binh Duong State Bank Branch said cash flow has been well done without cash over-supply or shortage, meeting credit organization demand. Healthy growth has been recorded in local and international payments, foreign exchange, credit cards and collateral. Non-cash payments are encouraged and related services will develop in concert with local demand.
Credit activities are changing in favour of the economic transformation. Loan turnover in 2006 increased 25 per cent against last year to VND33,716 billion. By the end of 2006, credit was VND14,600 billion, including 69.15 per cent in industry, nearly 18 per cent in construction and some 15.3 per cent in trade and service.
To mobilize capital, credit organizations have expanded the transaction network, applied customer-care policies, diversified forms and interest rates, improved quality and service and reduced service fees. As a result, capital mobilization reached over VND9,337 billion in 2006, or 25 per cent more than the previous year, meeting 63.68 per cent of the local capital demand.
In the coming years, Binh Duong State Bank Branch will continue expanding credit organizations, ensuring both quantity and quality, securing payments and preventing overdue debts. State management will also be strengthened to ensure correct development of banking credit.
Ms Nguyen Thi Thuy Nga, Director, An Thanh People’s Credit Fund: Credibility first
An Thanh People’s Credit Fund, began as a pilot project in Binh Duong with capital of VND1,135 million, has since increased capital to VND50 billion. In the initial stage, the Fund had some difficulties with little legal protection and support. Management Board members had to mobilize capital under their own credibility while creating solid customer-care policies.
Fund activities are centred in An Thanh town and the communes of An Son, Hung Dinh, Binh Chuan and Thuan Giao. A transaction office will be established in Binh Chuan commune to meet customer demand. It is expected that related authorities will assist with formalities so the office can be built and operating in 2007.
Mr Nguyen Dinh Phuc, Director, VCB Binh Duong: (Anh BD 2\12 He thong ngan hang BD\VCB Binh Duong): Efficiency in the interest of customers
In the recent past, Vietcombank (VCB) Binh Duong has offered competitive interest rates to mobilize different forms of idle resources among the population and organizations. Mobilized capital increased to VND2,840 billion in 2006, including VND980 billion from locals, 31 per cent more than previous year and 15 times more than 2000. In particular, foreign mobilized currency made up 33 per cent.
VCB Binh Duong proactively looks for feasible projects regardless of economic sector, especially efficient businesses, assisting them in choosing loans and business partners. As a result, loans and collateral have increased to VND2,655 billion, 19 per cent more than the previous year and 29 times more than 2000. VCB Binh Duong has expanded market share, establishing credit relationships with nearly 100 businesses and hundreds of individual customers. Beside the high growth rate, it has improved credit quality with overdue debts below 0.45 per cent, taking the lead among VCB units.
To develop Vietcombank’s prestige VCB Binh Duong helps import-export customers make payments on time and in conformity with international law and practice. In 2006, international payments hit US$550 million, foreign currency reached US$540 million, up 82 per cent. 78,500 Connect24 cards have been issued together with nearly 400 credit and international loan cards. VCB Binh Duong has installed 36 ATM booths and signed contracts for an additional 15 units.
To upgrade the service, VCB Binh Duong has stepped up modernization with new equipment, software, networking (VCB online) and 24-hour automatic banking service, VCB-money e-banking meeting the demands of customers without visiting the bank.
VCB Binh Duong is highly regarded for its service to business community. It pays special attention to small and medium sized enterprises, as they have difficulties accessing bank loans due to complicated formalities and mechanisms. VCB Binh Duong has provided businesses with consulting service on financial issues and legal formalities to get suitable loans, and even sent staff members to help prepare projects. The assistance is very helpful for local socio-economic development.
In the coming years, VCB Binh Duong’s strategy is to focus on customers and high quality human resources.
Ms Nguyen Thi Dung, Director, BIDV Binh Duong: Reliable address for investors
In 1976-1989, the Binh Duong Branch of Bank of Investment and Development of Vietnam (BIDV Binh Duong) carried out its main function of providing capital to State construction projects. A series of key projects were built such as offices, schools, hospitals, rubber plantations, the Thac Mo hydro-power station, Highway 13, Chinh Nghia urban area, An Thanh living quarters and My Phuoc and Vietnam-Singapore industrial zones.
Since 1990, with the inflow of foreign investment, BIDV Binh Duong has re-adjusted itself in accordance with the new development. It has transformed into a commercial bank in line with the market economy, expanding loans and services to all economic sectors and assisting local and foreign investors, especially those in industrial zones and for export.
BIDV Binh Duong has diversified the products for loans, remittance and payments, especially international payments and foreign currency. It continues to modernize its facilities and upgrade staff to meet development needs. ISO 9001:2000 has been applied to ensure efficient management and good service.
By the end of 2006, BIDV Binh Duong attained total credit of VND1,675 billion (up by 28 per cent), mobilized capital of over VND1,650 billion (up 25 per cent), meeting the demand of foreign investors. From only 1 per cent for commercial loans in 1999 (99 per cent for State projects), it has now increased to 90 per cent for commercial loans; from no foreign customer, it has now over 35 per cent foreign customers. The network has expanded to all key locations to meet customer demand.
Hoang Lam
Vietnamese
