After 30 years of re-establishment, Lao Cai province has obtained many achievements in socio-economic development with the contribution of the banking industry, which always adheres to the province's key goals. The banking system provides credit for all economic sectors and helps increase the appeal of the local investment environment. One active member of this system is the Joint Stock Commercial Bank for Foreign Trade of Vietnam - Lao Cai Branch (Vietcombank Lao Cai).
 |
With a strong brand foundation and a robust financial capacity, after more than seven years of operations in Lao Cai province (founded on April 1, 2014), Vietcombank Lao Cai strictly follows directives and policies of the Government and the State Bank of Vietnam (SBV) on interest rates, exchange rates and investment fields; complies with SBV regulations on operation and safety of the banking system; strives to balance operational safety and performance to act as a leading bank in the system for socioeconomic stability and development.
Since its establishment, under the direction of Vietcombank, the support of SBV Lao Cai and local authorities, and especially the unity and effort of all the staff, Vietcombank Lao Cai has made great strides and quickly become a popular and prestigious address for many customers.
Currently, in addition to the head office in Lao Cai City, Vietcombank Lao Cai has four transaction offices in Kim Tan, Cam Duong, Pho Moi and Sa Pa. Its fund totaled over VND2,600 billion, its outstanding loans valued over VND3,700 billion, lent to over 60,000 customers. Along with credit growth, credit quality management is always a top concern of the branch. So, credit quality over the years has always been ensured and bad debt ratio has always been kept low.
Vietcombank Lao Cai provides a wide range of products and services to meet different needs of customers, including credit, deposit, card services, insurance, financial investment, foreign exchange and trade finance, which are always competitive in interest rates, speed and economy.
Particularly, Vietcombank Lao Cai is leading the deployment of many high-tech products and services such as electronic tax, fee collection; internet banking; POS-based payment, ATM and QR code payment on internet, mobile and ATM channels; and bill payment services (electricity and water, etc.) to meet an increasing variety of customers and strongly promote non-cash payment in the province. In 2021, VCB Digibank digital banking service was launched, a major breakthrough in banking technology that helps customers perform online banking transactions and daily life services like power bill, telephone top-up, vehicle ticket, air ticket, insurance and e-wallet integration.
As a dynamic and innovative credit institution in Lao Cai province, Vietcombank Lao Cai also actively funds capital needs in agriculture, tourism, commerce and border economy. By actively seeking and offering soft loans to businesses and individuals, building and deploying a variety of credit products suitable to specific customer segment, creating favorable conditions for customers to access capital and banking services, actively reforming and streamlining procedures and records, and enhancing transparency and publicity of interest rates.
In 2020 and the first months of 2021, following the direction of the Government and the State Bank of Vietnam, Vietcombank Lao Cai has promptly and fully carried out support solutions and policies for customers trapped in difficulty caused by the Covid-19 epidemic: Launching and deploying many preferential credit product packages with appropriate interest rates; rescheduling repayment terms, slashing and exempting interest rates, which are highly appreciated by the business community.
Not only focusing on business operations, Vietcombank Lao Cai also pays special attention to social security. Since 2014, with the support of the central government, Vietcombank Lao Cai has donated nearly VND40 billion for social security. With its support, many schools were built and many poor households were helped. For example, it sponsored the construction of Ta Ngao Primary and Secondary School in Ban Qua commune, Bat Xat district; boarding high schools in Bao Yen district, Lao Cai. Many schools and houses for poor households were built for people in Yen Bai, Lai Chau, Dien Bien provinces.
With the commitment of "Accompanying local authorities in socio-economic development", in the next phase, Vietcombank Lao Cai will be steadfast to the local potential and advantages to invest in credit and develop services in accordance with the orientation of the Vietcombank system. It will manage to affirm itself as a leading, reliable bank and contribute to the provincial development.
Source: Vietnam Business Forum
Vietnamese
