On the afternoon of April 4, in Thanh Hoa City, the State Bank of Vietnam (SBV) held a conference to promote bank credit to contribute to economic growth in the area; announced the decision to establish and launch SBV Region 7.

Delegates attending the conference.

Attending the conference were comrades: Lai The Nguyen, Standing Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council, Head of the Provincial National Assembly Delegation; Pham Quang Dung, Deputy Governor of the State Bank of Vietnam; Nguyen Van Thi, Member of the Provincial Party Committee Standing Committee, Standing Vice Chairman of the Provincial People's Committee; Nguyen Quang Hai, Member of the Provincial Party Committee, Vice Chairman of the Provincial People's Council; leaders of Ninh Binh, Ha Nam, Nam Dinh provinces and leaders of the State Bank of Vietnam Region 7.

The State Bank of Vietnam Region 7 performs the task of advising and assisting the Governor of the State Bank in performing the function of State management of currency, banking activities, foreign exchange and some central banking operations as authorized. At the same time, it continues to perform the function of advising local Party committees and authorities on areas related to currency, banking activities and foreign exchange, serving the socio-economic development in the area.

Comrades: Lai The Nguyen, Standing Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council, Head of the Provincial National Assembly Delegation; Pham Quang Dung, Deputy Governor of the State Bank of Vietnam; Nguyen Van Thi, Member of the Standing Committee of the Provincial Party Committee, Standing Vice Chairman of the Provincial People's Committee presented flowers to congratulate the Board of Directors of the State Bank of Vietnam Region 7.

Previously, the State Bank of Vietnam announced the decision to appoint Mr. Tran The Hung, Deputy Director of the State Bank's Internal Audit Department, to hold the position of Director of the State Bank of Vietnam Region 7.

At this conference, the State Bank of Vietnam awarded the decision to appoint 4 Deputy Directors of the State Bank of Vietnam Region 7 to Mr. Tong Van Anh (Director of the State Bank of Thanh Hoa before the arrangement), Ngo Lam Son (Director of the State Bank of Nam Dinh before the arrangement), Nguyen Van Khiet (Deputy Director of the State Bank of Ninh Binh) and Dang Van Kim (Deputy Director of the State Bank of Nam Dinh before the arrangement); announced the decision to appoint the heads and deputy heads of departments of the State Bank of Vietnam Region 7.

Director of State Bank of Vietnam Region 7 Tran The Hung reported on the situation of banking credit activities in the region.

Currently, the management network of the State Bank of Vietnam in Region 7 has 112 level 1 bank branches, including: 32 branches of state-owned commercial banks, 70 branches of non-state joint stock commercial banks, 4 branches of social policy banks, 2 branches of development banks, 4 branches of cooperative banks; 160 people's credit funds; 1 Thanh Hoa microfinance organization and 6 branches of Tinh Thuong microfinance organization. The whole region has 439 transaction offices, 927 ATMs, 4,748 POS machines and 3 mobile transaction points.

Region 7 is located in 4 provinces in the North Central region and the Red River Delta, belonging to the North-South economic corridor; with potential and advantages in infrastructure, tourism, services, marine economy, mineral resources and development of energy projects. All 4 provinces have outstanding achievements in attracting FDI, with large projects on seaports, industrial parks, and economic growth at a fairly high level, creating favorable conditions for the banking sector to boost credit growth.

Comrade Pham Quang Dung, Deputy Governor of the State Bank of Vietnam and Director of the State Bank of Vietnam Region 7 Tran The Hung presented the appointment decision to 4 Deputy Directors of the State Bank of Vietnam Region 7.

Based on the direction of the superiors, the State Bank of Region 7 directed units to strictly implement the tasks of the sector, increase credit growth safely and effectively; direct credit to production and priority sectors, increase lending for life and consumption; strictly control sectors with potential risks...

By the end of February 2025, capital mobilization of credit institutions in the region reached VND 500,853 billion, an increase of 4.9% compared to the end of 2024, meeting 90% of credit capital demand in the region , accounting for 3.27% of capital mobilization nationwide. Of which, capital mobilization in the two provinces of Thanh Hoa and Nam Dinh accounted for the largest proportion of total capital mobilization in the region (accounting for about 39.3% and 27.3%, respectively). Outstanding credit balance at the same time of credit institutions in the region reached VND 556,230 billion, an increase of 0.31% compared to the end of 2024 , accounting for 3.53% of outstanding credit balance nationwide. Of which, outstanding credit balance in the two provinces of Thanh Hoa and Nam Dinh accounted for the largest proportion of total outstanding credit balance in the region (accounting for about 40.1% and 22.6%, respectively).

At the conference, delegates analyzed and clarified difficulties, obstacles, and issues that need attention in banking credit activities in the region. At the same time, they proposed and recommended to make banking credit activities in the region more and more effective.

Permanent Vice Chairman of Thanh Hoa Provincial People's Committee Nguyen Van Thi spoke at the conference.

Speaking at the conference, Permanent Vice Chairman of the Provincial People's Committee Nguyen Van Thi emphasized: In 2024 and the first quarter of 2025, in the context of slow global economic recovery, many difficulties and challenges still exist. However, the socio-economic situation of Thanh Hoa province has had positive changes. Specifically, the growth rate of total product in the area in 2024 is estimated at 12.16%, ranking 2nd in the country; State budget revenue is estimated at 57,052 billion VND, exceeding 60% of the estimate, up 32% over the same period, the highest ever, ranking first in the North Central region, ranking 7th nationwide; Total mobilized social investment capital is estimated at 138,856 billion VND, exceeding the annual plan by 2.9%... The results achieved have important contributions from the banking sector with its role as the lifeblood of the economy, providing timely capital, directing credit to priority areas and local growth drivers.

The Standing Vice Chairman of the Provincial People's Committee emphasized: 2025 is a particularly important year, deciding the results of the implementation of the Resolution of the 19th Thanh Hoa Provincial Party Congress, term 2020 - 2025 and the 5-year Socio-Economic Development Plan of Thanh Hoa province for the period 2021 - 2025; is the year to create the foundation, contributing to bringing the country into a new era - the era of striving to develop richly, civilized and prosperous of the nation. To contribute practically to the successful implementation of the 2025 growth target requires great efforts from all levels, sectors, the entire political system and the people of all ethnic groups in the province, in which the banking sector, the business community, cooperatives, production and business households in the province play a very important role.

"The transition of the provincial branches of the State Bank to the regional branch model does not create additional procedures for credit institutions, businesses and people, and at the same time creates favorable conditions for policy coordination. Although there are initial difficulties, we believe that this model will improve the efficiency of banking management in the area, promoting credit to key areas of the locality" - Standing Vice Chairman of the Provincial People's Committee Nguyen Van Thi affirmed.

The Standing Vice Chairman of the Provincial People's Committee suggested: In the coming time, the State Bank of Region 7 will continue to improve operational efficiency, promote the vital role of the economy, proactively coordinate with agencies and units in the provinces in the region to synchronously and effectively implement solutions to remove difficulties and obstacles in accessing capital and supporting customers; direct credit institutions to seriously implement the tasks of the sector under the direction of the Government, the Prime Minister, and the Governor of the State Bank of Vietnam. At the same time, closely monitor the socio-economic situation and banking activities to promptly advise local Party committees and authorities in implementing appropriate credit policies, contributing to the socio-economic development of the provinces in the region. Promote credit growth according to the development orientation of the locality, focusing on production sectors and priority sectors, promoting preferential credit to support economic growth. Continue to reform administrative procedures, create favorable conditions for businesses and people to access bank capital, but still ensure credit quality, limit bad debt. Coordinate to promote digital transformation, implement Project 06 and develop non-cash payments, contribute to building e-government and smart cities...

Actively coordinate with business associations, industry and profession associations in localities to strengthen the connection between banks and enterprises in appropriate forms. Increase information on credit programs, policies, and credit support of the industry so that enterprises in the province can proactively research, approach, and accelerate the process of recovery and development of production and business...

“Thanh Hoa province commits to always support the banking sector in performing its tasks of monetary management and trading, exploiting the province's potential for sustainable development,” emphasized Comrade Nguyen Van Thi.

Deputy Governor of the State Bank of Vietnam Pham Quang Dung concluded the conference.

Concluding the conference, Deputy Governor of the State Bank of Vietnam Pham Quang Dung requested the State Bank of Vietnam Region 7 to continue directing credit institutions in the area to implement solutions to increase credit growth safely and effectively, balance capital sources to ensure meeting the needs of the economy; promote the implementation of preferential credit programs according to the direction of the Government; continue to implement solutions to create favorable conditions for customers to access credit on the basis of ensuring legal regulations...

The Deputy Governor of the State Bank of Vietnam also requested leaders of provinces in the region to continue to direct departments, branches and sectors to create favorable conditions for the banking sector to operate and develop credit; promptly have solutions to remove difficulties for businesses to have enough conditions to access capital for investment in production and business, contributing to promoting local socio-economic development...

Khanh Phuong