Chairman of the National Assembly (NA) Vuong Dinh Hue visits Co-opBank. (Photo: VNA) In a New Year visit to the Hanoi-based bank, theleader hailed the banking sector’s performance in digital transformation andcashless payment, as well as its contributions to perfecting the legal system.
Last year, Co-opBank served nearly 1,200 people's credit funds with a total asset of181.73 trillion VND (7.43 billion USD), and charter capital of 6.99 trillionVND, covering 57 out of the 63 cities and provincesnationwide, with more than 1.7 million members.
Mentioning socio-economic targets set for 2024 andthe 2021-2025 tenure, Hue noted that the banking sector plays a crucial role in the national economy and monetary security.
He asked the sector to improve its forecasting andanalysing capacity, keep a close watch on the regional and global economy,especially energy price developments, to make and manage monetary policies suitably,and ensure the harmony between reducing interest rates and stabilising exchangerates.
The sector needs to step up its inspections andsupervisions to keep the monetary and credit markets stable and boost the administrative reform, he said, stressing the hard task lies with how to ensurecapital for production and business without lower credit standards.
The top legislator urged Co-opBank to raise itsoperational efficiency, thus fulfilling its political tasks assignedunder the Party’s policies, and the revised Law on Cooperatives and the amendedLaw on Credit Institutions.
Co-opBank, formerly known as the Central People’sCredit Fund, was established to implement the Party and State's policies ondeveloping a new cooperative credit model, contributing to poverty reductionand agricultural and rural development. It mainly serves small- and medium-sizedenterprises, households and farmers./.
VNA
