Dong Nai Branch of State Bank sums up its operation in 2005 and sets targets for 2006

The capital mobilized by provincial bank branches increased significantly in the last year. Total mobilized capital reached VND 15,158 billion in 2005, up 19 percent from 2004. Of that total, locally-mobilized capital accounted for 65.28 per cent. Particularly, Dong Nai branch of Viet Nam Bank for Agriculture and Rural Development (Agribank) mobilized local capital sufficient to fully satisfy clients’ borrowing demands thanks to efficient operation of branch banking system with province-wide network. Local capital mobilized by Dong Nai branch of Agribank accounted for more than 40 per cent of the total locally mobilized capital of the provincial banking sector. Besides, deposits mobilized by local branches of other banks such as the Industrial and Commercial Bank (Incombank), Dai A Rural Joint Stock Bank, the Asia Commercial Bank (ACB) and the Saigon Thuong Tin Commercial Bank (Sacombank) also represented a large portion of total capital mobilized by the provincial banking sector. In 2005, total loans from the provincial banking sector reached over VND 27,000 billion, grew by nearly 33 per cent over the previous year, with medium-term and long term loans accounting for more than VND 13,235 billion, or jumped more than 24 per cent over 2004. By the end of 2005, the total debit balance amounted to over VND 13,235 billion, increased more than 14 per cent compared to the beginning of the year.

The Vice chairwoman appreciated efforts of the banking system to socioeconomic development of the province. However, the 20% growth rate target set by the branch is too low incompatible with development requirements according to the Resolution issued at the 8th Dong Nai Party Congress. The vice chairwoman paid special attention to improve the quality and service of the whole system to meet growing investment need as well to enhance competence in competition and integration.

On this occasion, the Dong Nai branch had an honor to receive a commendation from the Prime Minister. Individuals and groups with outstanding merit will also be rewarded at the celebration.

(Source Dong Nai Radio and Television Station)