Capital support and comprehensive supervision of the People's Market
The summary report shows that, right from the beginning of 2024, before the dramatic changes in the mechanism - macroeconomic policy, Co‑opbank has actively reduced lending rates for PCFs to 4 times, with an average of 1.4%/year. As a result, by December 31, 2024, the balance of the PCF's air conditioner at the bank reached 46.103 billion dong (an increase of 6.45% compared to the end of 2023), while the outstanding loan of the air conditioner loan soared to 2,072 billion dong (up 30.12%).
Not only prioritizing capital, Co‐opBank also strictly implements inspection and supervision according to the plan of the State Bank. The bank provides "white savings books" to funds, legal advice, information support and assigns staff to hold management positions at units in difficulty.
The management of the People's Trade Union Safety Fund has been carried out closely, and at the same time, coordinated with the People's Trade Union Association and the Guard Fund to build a common brand identification unit, supporting the cost of installing signs for People's Trade Unions affected by storm No. 3.
Mr. Thai Dinh Cau, Director of Tay Thanh People's Bank (Nghe An), shared: "We could not have achieved today's success without the timely support of Co‐opBank." This comment affirms Co‐opBank's pillar position in the credit cooperative community.
Digital transformation and improving financial capacity
Along with prioritizing capital, Co‐opBank has researched and implemented a series of digital banking services. The new CF‐eBank money transfer system, 24/7 payment services and the free policy for all online transactions have helped 952/1,180 QTDND connect to the electronic payment network by the end of 2024. This widespread participation creates a stepping stone for funds to improve their competitiveness and serve customers more effectively.
Regarding organization, banks will step up restructuring the apparatus, handling bad debts according to the plan for the period 2021-2025 and strengthening risk management. As a result, Co‐opBank has exceeded 8.54% of the business and financial plan assigned by the State Bank.
Speaking at the Congress, Mr. Nguyen Quoc Cuong - Chairman of the Board of Directors of Co-opBank said: 2025 is a year of "finishing" to achieve the Development Strategy Goals, the Restructuring Plan associated with bad debt settlement of Co-opBank in the period of 2021-2025, creating a solid foundation for Co-opBank in the next development stage.
Stemming from the urgency to improve the financial capacity to develop in the new period, Co-opbank has received the attention and support of the State Bank, Unit, in coordination with relevant agencies to complete the dossier to submit to the Government on the content of strengthening the financial capacity of Co-Opbank.
On April 16, 2025, the Government submitted a document to the National Assembly Standing Committee proposing to consider and decide to support VND 5,000 billion in state capital to increase charter capital for Co-opBank. This is a strong lever to create momentum for Co-opBank to transform, effectively fulfilling its mission, duties and tasks assigned to the QTDND system.
