Active support for economic development
Over
the past time, the province’s banking sector made a strong development
in both quality and quantity with material facilities constantly
upgraded and its operational network expanded. The sector actively
contributed to maintaining the province’s economic growth at a high rate
for many consecutive years while launching lots of new services like
multi-fictional card, e-banking service, automatic teller system…
The
branches of province-based commercial banks considered and disbursed
great loans for State companies, limited liability companies and private
enterprises; gave priority to providing loans for activities pertaining
to agricultural and rural development, especially effective projects in
localities with rural new construction.
Whilst,
the branches of the Bank for Social Policies, the Bank for Agricultural
and Rural Development, the Fund for Investment-Development in the
province…also contributed to realizing the State’s credit policies and
actively supported the province in the program of generating jobs,
reducing poverty, ensuring social welfare, linking with businesses…
Banking
credit has actively contributed to maintaining the local economic
growth for many consecutive years. In picture: Clients borrowing loans
at BIDV’s Binh Duong’s branch
Towards a financial-credit center
Over
the past five years, the branches of province-based banks continued
speeding up administrative reform, applied information technology into
management and transaction; developed non-cash payment services,
installed more ATMs; provided new services like electricity and tax
payments…
During
the local development process, Binh Duong has absorbed domestic and
foreign banks. This is seen as one of advantageous conditions for the
province to gradually form up a big financial-credit center of the whole
country.
The
province now has a total of 55 credit institutions, 10 people’s funds,
114 transaction offices, 613 ATMs…at enterprises and individuals’ demand
for financial transaction. This has brought advantages to capital
mobilization and lending while opening additional convenient services
for all people.
From
early this year to late July 2015, total mobilized capital in the
province reached nearly VND107.5trillion, up 11%. Total outstanding
loans amounted to more than VND86.7trillion, up 9.7% compared to early
this year. Bad debts were at a low rate with VND1.512trillion,
accounting for 1.8% of total outstanding loans…All have contributed to
raising Binh Duong’s credit growth that is always higher than the
average level of the whole country, paying way for capital flows into
production for many consecutive years. |
Reported by Thanh Hong, H.H-Translated by K.T