As the State managerial agency on currency at Binh Duong province, aside from efforts, the State Bank’s Binh Duong branch has greatly contributed to the local economy. Specifically, a system of banking has rapidly developed in quantity with 63 branches out of 104 transactional offices covering all districts and towns, cities throughout the province.
Along with the process of perfect development of traditional and new products, turnover and payment as well as foreign currency business have gained a fair growth. The abundance of banking services has created advantages for payment, transaction, contributing to spur investment, production and business development.
In addition, circulation of currency has been ensured adequately and rapidly, management of foreign exchange and rate is suitable to supply and demand, contributing to improve the State management efficiency and to minimize risks.
Despite difficulties and challenges, the banking sector’s cadres and employees have actively overcome obstacles. Since 2008, owing to bad impacts on the global economic downturn, decline of purchasing power, stagnancy of real estate… have influenced directly on production and business of companies. Disadvantages of real estate and production and business are basic reasons triggering increase on bad debts.
However, by efforts and accumulated experiences, the State Bank’s Binh Duong branch has positively launched currency policies to create balance and stability in credit growth.
In 2102 alone, the sector’s total mobilized capital reached VND73,288bil, a 27.72% increase from 2011; total outstanding loan at VND53,807bil, a 5.39 increase from the previous year…
Assessing the sector’s operation in the recent 5 years, the branch director Bui Van Nu said that the done results were thanks to close instruction of the Party and State and efforts of related agencies such as taxation, treasure, customs, public security and so on. Amide the welcoming ambience of the 83rd founding anniversary of Vietnamese Communist Party and Lunar New Year 2013, Binh Duong provincial banking sector was awarded Labor Order, second class. This was a pride for all public servants of the sector.
Reported by T.Hong – Translated by A.C
