Deputy Director of Internal Audit Department appointed Director of State Bank Region 7

State Bank of Vietnam Region 7 includes 4 provinces: Nam Dinh, Ha Nam, Ninh Binh, Thanh Hoa; the headquarters of the State Bank of Vietnam region is located in Thanh Hoa.

Mr. Tran The Hung, Deputy Director of the Internal Audit Department of the State Bank of Vietnam, was appointed as Director of the State Bank of Vietnam, Region 7 Branch.

The Deputy Directors of the State Bank of Vietnam Region 7 include: Mr. Tong Van Anh (Director of the State Bank of Vietnam Thanh Hoa Branch), Mr. Dang Van Kim (Director of the State Bank of Vietnam Nam Dinh Branch), Mr. Nguyen Van Khiet (Deputy Director of the State Bank of Vietnam Ninh Binh Branch) and Mr. Ngo Lam Son (Deputy Director of the State Bank of Vietnam Nam Dinh Branch).

At the conference, Deputy Governor of the State Bank of Vietnam Pham Quang Dung presented the decision to the leadership of the State Bank of Vietnam Region 7 and the heads and deputy heads of departments.

Deputy Governor of the State Bank of Vietnam Pham Quang Dung (third from right) presents the decision to appoint the leader of the State Bank of Vietnam Region 7. (Photo: Hung Dung)

After the arrangement, the total number of civil servants and workers in Region 7 is 193 people.

The organizational structure of the State Bank of Region 7 after the arrangement includes 7 departments: General Department; Regional State Bank Inspectorate; Department of Management and Supervision of Banks, Foreign Bank Branches and Other Organizations; Department of Management and Supervision of People's Credit Funds, Microfinance Institutions, Microfinance Programs and Projects; Accounting - Payment Department; Monetary - Treasury Department; Administration - Personnel Department.

The State Bank has completed the reorganization of 63 provincial and municipal branches into 15 regional banks, ensuring state management, payment activities, monetary security, and treasury for the banking system.

Also on the afternoon of April 4, the State Bank of Vietnam held a Conference on Promoting Bank Credit, Contributing to Economic Growth in Region 7.

According to Mr. Tran The Hung, new Director of the State Bank of Vietnam, Region 7, by the end of March 2025, outstanding loans of credit institutions in Region 7 are estimated to reach more than VND 561 trillion, an increase of about 1.2% compared to the end of 2024, accounting for about 3.5% of outstanding credit nationwide.

Also according to Mr. Hung, up to now, the interest rate for deposits with terms of less than 6 months in the region is commonly from 2.61-3.34%/year; from 6 months or more, it is commonly from 4.35-5.17%/year.

“The lending interest rate for new transactions continues to decrease. Short-term lending interest rates are commonly at 5.5% - 7.5% per year; medium and long-term lending interest rates are commonly at 8% - 9% per year,” said Mr. Hung.