On April 19 in Hanoi, Vietnam Cooperative Bank (Co-opBank) solemnly held a ceremony to celebrate its 30th anniversary (19952025). The event is an opportunity to look back on the three-decade journey of building and developing the only financial cooperation institution in Vietnam, as well as affirming strategic orientations in the new period.
Attending the ceremony were Deputy Governor of the State Bank of Vietnam (SBV) Doan Thai Son, former Governor of the SBV Cao Si Kiem, representatives of ministries, central departments, branches, international organizations such as the Embassy of Canada, DID development organization, representatives of commercial banks, academies, universities and nearly 1,200 delegates from the People's Credit Fund system (QTDND) nationwide.
From the Central People's Fund to Co-opBank - The three-decade journey of linking, supporting, and developing
Speaking at the ceremony, Mr. Nguyen Quoc Cuong-Secretary of the Party Committee, Chairman of the Board of Directors of Co-opbank-reviewed the formation process of the Bank: The forerunner was the Central People's Committee, established under the Decision No. 162/QD-NH5 of the Governor of the SBV on August 8, 1995, with the core goal of ensuring safety, regulating capital and supporting the operation of the PCF system.
Over the past thirty years, under the direction of the SBV, the companion of international partners and the efforts of the whole system, Co-opbank has constantly grown in size, financial capacity and service quality. By the end of 2024, the total assets of the bank reached nearly 62,000 billion VND - an increase of 523 times compared to 1995; capital mobilization reached more than VND 55,000 billion (up 4,746 times); The loan balance is nearly 37,000 billion dong (up 567 times).
The Co-opBank network currently includes a Head Office, 32 branches and 66 transaction offices, connecting nearly 1,200 QTDND in 57/63 provinces and cities - creating a sustainable credit channel, serving nearly 2 million members, mainly people, business households, and cooperatives in rural areas.
Central role in the NTSC system and digital transformation breakthroughs Not only stopping at the role of capital regulation, internal audit, participating in restructuring NTSC according to the direction of the State Bank, Co-opBank is also a pioneer in modernization and technology application. The bank has invested heavily in technology infrastructure, deployed 24/7 interbank money transfer services for QTDND, Co-opBank Mobile Banking digital banking application, issued Co-opBank Napas domestic chip cards and especially developed a trio of digital platform products exclusively for QTDND.
To date, more than 900 QTDND have successfully connected to the modern payment system, gradually bringing microfinance activities in rural areas closer to commercial banking standards. In 2023, these efforts were recognized internationally: Co-opBank was awarded the "Digital Transformation Organization of the Year" award by the World Federation of Commercial External Trade Unions (WOCCU) - a milestone affirming its pioneering position in promoting financial inclusion in Vietnam.
Co-opBank pays special attention to improving the capacity of QTDND staff. Through the Project "Promoting the People's Credit Union System" funded by the Government of Canada, the bank has coordinated to organize dozens of training courses on internal audit, risk management, and product development for 75 pilot People's Credit Unions - thereby spreading modern management experience and skills to the entire system.
In addition, in order to enhance consistency and professionalism, Co-opBank and the Association of Certified People's Examiners have built a common brand identity for the entire system - integrated on a digital banking application platform, synchronizing the image of Certified People's Examiners nationwide.
The Governor of the State Bank of Vietnam directs 5 groups of strategic tasks
Speaking at the event, SBV Deputy Governor Doan Thai Son highly appreciated Co-opBank's role in building a healthy cooperative financial system, actively contributing to the socio-economic development in localities and the process of reforming the banking system.
In the context that the economic situation has difficult fluctuations, the Deputy Governor hopes that Co-opbank must make efforts and determination very high in perfecting, renewing the model and improving the quality of operation to soon make Co-opbank an versatile, modern financial institution, successfully fulfilling the role of the system of system linking, making a solid fulfillment support for the safety of the PCFs, healthy and healthy. Cooperative CI. Since then, Deputy Governor of the State Bank of Vietnam has emphasized a number of key tasks that Co-opbank needs to do in the near future.
First, inherit the good achievements that have been achieved and promote high courage, intelligence, innovation and creativity to continue to develop Co-opBank strongly, safely, effectively and sustainably in the coming period.
Secondly, focusing on improving the capacity of Co-opbank to well perform the banking role of the PCF, the system of system linking. In which, completing the increase of charter capital for Co-opbank; Training to improve professional qualifications and professional ethics for leaders and employees of Co-opbank; Continue to invest and build modern technology and infrastructure; Formulating, amending and supplementing the regulations and regulations in accordance with the provisions of the Law on Credit Institutions in 2024 and relevant legal documents; Completing the organizational structure and internal control system; Actively implement synchronously and drastically solutions to restructure and handle bad debts in the period of 2021-2025 and the next stages.
Third, synchronously deploy solutions to comprehensively support the QTDND system in governance, operation, control, and internal audit; Research international experience, Vietnamese practice and specific characteristics of the QTDND system to develop products and services to care for and serve member QTDND and members of the QTDND;...
Fourth, create strong changes in the work of inspection, supervision, and internal audit of the People's Market to grasp the situation of operations, detect violations and risks, promptly rectify the activities of the People's Market, ensure compliance with legal regulations and risk prevention.
Fifth, closely coordinate with functional units under the Central State Bank, the State Bank of Vietnam, the Deposit Insurance of Vietnam and local authorities at all levels in caring for, supporting, inspecting and supervising the activities of the system of the State budget, especially in promptly detecting and handling weak State budget, minimizing negative impacts.
"With achievements, good traditions have been achieved in the past 30 years and bravery, intelligence, solidarity, innovation and creativity of the generation of officials today, Co -opbank will continue to develop strongly, effectively, contribute more positively to the cause of innovation, development, integration of the industry and the country in the new era, worthy of the beliefs and responsibilities of the State of the State, the State of the State
The ceremony is an opportunity to look back on the proud 30-year journey, while opening a new development stage with a clear orientation, strong commitment and aspiration to "reach far" - true to Co-opBank's motto of action in the 2025 pivotal year.
