Dong Nai branch of Vietcombank up 2005 target of 18-25%

"One door, on the spot" service - new development in VCB operation

(ĐN) - In the first seven months of this year, the Dong Nai branch of Vietnam Bank for Foreign Trade of Vietnam (Vietcombank) has lent more 4,432.4 billion VND to its clients, rose by 25% over the same period last year; its debit balance of credit achieved nearly 3,216.3 billion VND, up 18%. Besides, the branch mobilized capital totaling 1,800 billion VND, grew by 16%; its turnover of import-export payment service hit US$556.150 million, an increase of 25%. Moreover, Vietcombank’s foreign currency trade and exchange turnover raised 16% and its profit increased by 67% compared with the same period of last year. Especially, over 48,000 ATM cards have been released by the branch. The figure presented a rising of 29,000 cards against the same period of 2004. The turnover of transactions through the ATM system raised 108% during the same period.

On the other hand, the Dong Nai branch has accelerated reform of administrative procedures bases on the spirit “one door, on the spot” service. The Dong Nai branch achieved genuine reform while assuring a strong, competitive environment for financial services and at the same time, addressing related issues to modernize and strengthen financial systems. In addition, it provides a wide range of quality banking services to businesses and organizations throughout the province, including trade finance, and electronic banking and credit card transactions. These were importance factors that helped enhance the Dong Nai branch’s prestige among its clients both at home and aboard. During the five past years, the Dong Nai branch has maintained an average annual growth rate of 40-45% and helped both importers and exporters provide payment mechanisms for international sales and purchases and foreign receivables. Initially, the Dong Nai branchs financial resources had concentrated in priority State sector and given 80-85% of its loans to State-owned enterprises (SOEs). Then, the branch adjusted to allocate 75-80% of its total loan portfolio to non-SOEs. Especially, export production absorbed 55-60% of total investment loans to non-SOEs. During many consecutive years, the Dong Nai branch has emerged as Dong Nai’s leading investment bank to offer loans to foreign-invested enterprises. The branch has been also constantly adjusting itself in an effort to meet the ever-changing demands of the market as well as its clients. It is well recognized by its clients and the general public as a bank of innovation, quality service and advanced technologies.

Kim Loan