Going through the challenging year of 2020, Vietcombank still reaped impressive achievements to reaffirm its position as the best-performing bank and the largest taxpayer in the province. Like other Vietcombank units, Vietcombank Tay Ninh also successfully completed its business tasks in 2020 and was named one of 21 outstanding branches and subsidiaries of Vietcombank to successfully fulfil business tasks on the one hand and responsibly support customers in difficulty.

Sharing sweet and bitter things with businesses

In the past year, Vietcombank Tay Ninh fully and promptly followed instructions of the Government and the State Bank of Vietnam (Directive 01/CT-NHNN dated January 3, 2020 of the State Bank of Vietnam on monetary policy and safe and effective banking operations in 2020; Directive 11/CT-TTg of the Prime Minister dated March 4, 2020 on tasks and solutions to solve business difficulties faced by enterprises, ensure social security in response to the COVID-19 epidemic; Circular 01/2020/TT-NHNN dated March 13, 2020 on loan repayment restructuring, rate exemption and reduction and debt classification by credit institutions and foreign bank branches to support customers affected by COVID-19 epidemic) and Vietcombank's operating directions in 2020.

With the high sense of responsibility and firm action of its employees to surmount all difficulties, Vietcombank Tay Ninh achieved very important results in 2020. The branch continued to strengthen and uplift its position in the province, with outstanding credit balance equal to 112% of the full-year plan and 27% higher than at the beginning of the year, deposits equal to 110% of the yearly plan and 26% compared to the beginning of the year. Credit quality was well controlled with the nonperforming loan (NPL) ratio below 0.02%. Besides, the turnover of international payment - trade finance, foreign currency trading increased rapidly, accounting for 20% of total turnover of import and export payment in the province. The profit also met the plan.

As a leading bank to implement provincial guidelines and programs on socioeconomic development and investment attraction, Vietcombank Tay Ninh adopted monetary, interest and credit policies proven to facilitate local companies to deal with difficulties, with special focus on five priority sectors. So far, its outstanding loans in priority sectors account for 70% of its total loan balance. In 2020, when the COVID-19 epidemic exerted a negative impact on the business community, together with the Government, the State Bank and the entire Vietcombank system, Vietcombank Tay Ninh also launched many policy solutions to support its customers. Accordingly, the branch slashed interest rates for borrowers five times, with rate-cut loans valued at nearly VND5,000 billion. The value of rate cuts was more than VND40 billion. New loans carrying 1-3% lower interest rates were aimed to fund businesses and individuals to restore business operations. As much as VND7,000 billion of rate-cut loans was disbursed, of which over VND5,000 billion was granted to priority areas. The branch restructured the repayment term and kept the debt category unchanged for seven customers which borrowed VND125 billion.

In 2021, the Covid - 19 epidemic emerged and significantly affected the economy as well as enterprises. To side with businesses, in addition to promoting preferential loan programs, Vietcombank Tay Ninh has focused on dealing with capital mobilization, lending and technology among other factors to create favorable conditions for businesses to access and use capital effectively, gradually go through difficulties, and restore and grow business performances.

Trusted partner of FDI firms

Tay Ninh province is endowed with abundant potential and advantages for economic development and investment attraction. Grasping this strength, in recent years, the economy has impressively achieved an GRDP of 7.2%, higher than the national median. The economic size expanded by 1.68 times compared to the previous term. The GRDP per capita reached US$3,135 in 2020, up to 1.51 times higher than that in 2015. The economy was shifted toward a desired pattern where industry and services accounted for 76.9% of its gross regional domestic product (GRDP).

With good infrastructure support, abundant human resources and an open investment environment, Tay Ninh quickly attracts many large-scale FDI projects which in turn positively support local socioeconomic development. Director of Vietcombank Tay Ninh Vo Van Su said that, grasping this opportunity, the branch has focused on strongly expanding the FDI customer base and achieved very positive results, thereby enabling it to increase credit balance and developing services, trade finance, international payment, foreign currency trading and retail; helped customers to build up the trust of the local banking system in general and Vietcombank Tay Ninh in particular to international companies for service quality. To meet increasingly diversified needs of corporate customers in general and FDI firms in particular, the branch has actively developed and expanded the business network to offer best banking products and services to major urban - business centers of the province where it has four transaction offices in Go Dau, Trang Bang and Tan Chau districts.

Carrying out many consistent solutions, in the past two years (2019 - 2020), Vietcombank Tay Ninh achieved many outstanding results in FDI customer development, with 27 new FDI customers in the period, to raise credit supply by VND2,500 billion, and mobilized deposits by more than VND1,000 billion. The branch sold other products and services to more than 15,000 new individual customers who are employees of FDI enterprises. “In 2021, Vietcombank Tay Ninh will further maintain its growth of FDI customer segment, deploy many programs to attract new potential customers, especially big exporters. In addition, the branch will give priority to product development to match the needs of FDI enterprises, including the most preferential rate and fee programs,” he added.