On the morning of June 7, in Ha Tinh City, State Bank Region 8 held a conference to summarize the activities of the People's Credit Fund in the three provinces of Nghe An, Ha Tinh, and Quang Binh in 2024, the first 4 months of 2025, and deploy tasks for the last 8 months of 2025.
Vice Chairman of Ha Tinh Provincial People's Committee Tran Bao Ha attended.
In the three provinces of Nghe An , Ha Tinh, and Quang Binh, there are currently 115 People's Credit Funds licensed to establish and operate by the State Bank of Vietnam, Branch Region 8, of which 89/115 People's Credit Funds operate according to the inter-commune, ward, and town model; 49/115 People's Credit Funds have transaction offices, with a total number of 287,080 members, an increase of 17,599 members compared to 2023. On average, each People's Credit Fund has 2,496 members.
With the attention of the People's Committees at all levels and sectors, especially with the direction and professional support of the State Bank Branch, the Cooperative Bank, and the propaganda work of the Deposit Insurance of Vietnam in the North Central Region, the activities of the People's Credit Funds have developed, stably and sustainably, in accordance with their objectives.
The total operating capital of the People's Credit Funds in the three provinces as of December 31, 2024 reached VND 25,787.8 billion. As of April 30, 2025, the total capital reached nearly VND 27,000 billion, an increase of more than VND 1,000 billion compared to the beginning of the year; the average total capital reached VND 233.3 billion/People's Credit Fund.
The credit quality of the QTDNDs is basically guaranteed, the bad debt ratio is within the allowable limit. The total bad debt as of April 30, 2025 is 128.8 billion VND, accounting for only 0.64% of the total outstanding loans. 100% of the business funds are profitable.
In addition to supporting people and localities in developing agricultural and rural economy , the operation of the QTDND model in the area also contributes to increasing the local budget revenue. As of December 31, 2024, the total amount of QTDND paid to the budget was 43.33 billion VND and created direct jobs for 1,792 local officials, with income increasing over the years.
In addition, the People's Credit Funds have actively participated in building new rural areas and social security in the area with a total contribution in 2024 and the first 4 months of 2025 reaching 9,082 billion VND.
The activities of the People's Credit Funds have gradually affirmed the role and position of the type of credit institution "close to the people, close to the people", as an effective capital channel, promoting advantages in mobilizing idle capital from the population for lending, supporting the community for sustainable development, improving living standards, creating jobs, contributing to building new rural areas.
In the coming time, the State Bank of Vietnam, Region 8 Branch, will strengthen inspection, prevention, and control of law violations to ensure security and safety in the People's Credit Fund system; direct and supervise the People's Credit Funds in the area to effectively implement the contents of the restructuring plan associated with bad debt settlement for the period 2021 - 2025; improve financial capacity, increase equity, credit quality, governance, management, control, and internal audit; promptly detect and adjust plans to suit reality.
For the People's Credit Fund system, closely follow the orientation and direction of the State Bank, functional agencies, Party committees and local authorities during the operation process; focus on operating in a safe and stable direction, credit growth must ensure quality, and limit the occurrence of bad debts.
Speaking at the conference, Vice Chairman of Ha Tinh Provincial People's Committee Tran Bao Ha requested the State Bank of Vietnam, Branch Region 8, to strengthen its management and supervision role, closely coordinate with local Party committees, authorities and relevant agencies to find solutions to stabilize the operations of the People's Credit Fund in the area.
People's Committees at all levels, relevant organizations, departments and branches continue to direct, facilitate, proactively and actively coordinate with the State Bank of Vietnam, Region 8 Branch in improving the quality of QTDND's operations to ensure effective and sustainable development.
Source: https://baohatinh.vn/dam-bao-quy-tin-dung-nhan-dan-phat-trien-hieu-qua-ben-vung-post289381.html
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