Mr. Duong Van Thang - Vice Chairman of the Provincial People's Committee attended the conference.
Attending the conference were Mr. Duong Van Thang - Vice Chairman of the Provincial People's Committee.
Currently, the province has 18 QTDNDs operating in 51 communes, wards and towns of 8 districts, towns and cities. In 2023, despite being affected by the general difficulties of the economy , with the efforts of each QTDND, the scale of operations and the number of members participating in QTDNDs in the province are increasing.
The operations of the People's Credit Funds are safe and effective, promptly meeting the capital and banking service needs of members. The People's Credit Funds comply with the operational goals of the collective economy, which are to support members and develop the community, while at the same time covering costs, preserving capital and accumulating for development.
By the end of 2023, 18 QTDNDs had a total charter capital of VND 106 billion contributed by nearly 26,000 members; mobilized capital reached VND 2,309 billion, an increase of 10.8%; outstanding loans of VND 2,201 billion, an increase of 1.7% compared to the beginning of 2023; bad debt accounted for 0.33% of total outstanding loans.
To remove difficulties for borrowers under the direction of the Governor of the State Bank of Vietnam in Circular No. 02/2023/TT-NHNN, the Funds have developed internal regulations, disseminated them to members and strictly implemented them. As a result, the QTDNDs have restructured the repayment period and maintained the debt group for 12 members with outstanding debt of VND 5.98 billion.
In 2023, the profit achieved by 18 QTDNDs was 33 billion VND, all Funds were profitable. In addition to traditional mobilization and lending activities, QTDNDs in the area have joined with Cooperative Bank to provide money transfer services (CF-eBank) to diversify the Fund's products and services, contributing to improving business efficiency; encouraging members to open payment accounts, make cashless payments... However, the revenue generated and revenue from this activity is not much.
Mr. Nguyen Xuan Hien - Director of the State Bank of Vietnam , Tay Ninh branch, said that the bank continues to improve the quality and effectiveness of State management of the activities of the People's Credit Fund system in the province; strengthen inspection, examination and supervision, promptly detect and strictly handle violations of the law.
Speaking at the conference, Mr. Duong Van Thang - Vice Chairman of the Provincial People's Committee requested the State Bank of Vietnam, Tay Ninh branch to enhance its role in State management, strengthen inspection and comprehensive supervision of the activities of the People's Credit Funds, especially the People's Credit Funds showing signs of being unhealthy and having many potential risks; supervise the People's Credit Funds to properly implement the progress and content of the approved plan "Restructuring associated with bad debt settlement in the period of 2021 - 2025".
Customers transact at QTDND Hoa Thanh.
Tay Ninh Police directs local police and affiliated units - especially district, town and city police where the People's Credit Fund is headquartered - to proactively grasp the situation, strengthen coordination and exchange information with the State Bank of Vietnam Tay Ninh branch on signs of violations, law violations and other unusual signs in the activities of the People's Credit Fund; closely coordinate with the State Bank of Vietnam Tay Ninh branch in organizing the implementation of plans to ensure security, order and social safety in the process of handling weak People's Credit Funds (if any).
The People's Committees of districts, towns and cities shall proactively inform the Tay Ninh branch of the State Bank of Vietnam of signs of violations and irregularities in the operations of the People's Credit Funds in order to take measures to handle them, including handling management, operation and control personnel; to avoid causing insecurity, disorder, social safety and the safety of the People's Credit Funds system in the area.
For the QTDND system in the province, it is necessary to closely follow the orientation and direction of the State Bank, functional agencies, Party committees and local authorities during the operation process, ensuring the correct implementation of the principles and purposes, fully complying with the principles of the cooperative model, avoiding pursuing pure profit. The Funds focus on enhancing mutual support and connection between members, focusing on the goal of supporting members to develop production, business, services and improve their lives, serving the local community.
Nhi Tran
Source
Comment (0)