Agribank Hai Duong - 35 years for farmers and rural areas

Comrade Tran Duc Thang, Member of the Party Central Committee, Secretary of the Provincial Party Committee, awarded the emulation flag to Agribank Hai Duong for achieving the title of exemplary clean and strong for 5 consecutive years (2018-2022).

Over the past 35 years, although the name has changed many times, the mission for the development of Vietnamese agriculture, for farmers and rural areas has always been the "red thread" throughout the journey of Agribank Hai Duong branch.

As of December 31, 2022, the total capital of Agribank Hai Duong branch (Agribank Hai Duong) reached over 33,000 billion VND, accounting for 20% of the market share in the area, with outstanding loans of nearly 20,000 billion VND, accounting for about 16% of the market share. That result not only affirms the brand of Agribank Hai Duong, but also contributes to the Agribank system nationwide being named many times in the list of Strong Vietnamese Brands in the field of finance and banking.

With its main role as a bank serving agriculture, Agribank has contributed to creating capital conditions for many high-tech agricultural models in the province.

Overcoming hardship

On March 26, 1988, the Council of Ministers (now the Government) issued Decree No. 53/ND-HDBT on the establishment of specialized banks, including the Vietnam Bank for Agricultural Development. On July 1, 1988, the Governor of the State Bank issued Decision No. 57 establishing the Hai Hung Provincial Bank for Agricultural Development, which officially came into operation on August 1, 1988. During the development process, to suit the local economic situation at each stage, the branch has changed its name many times. In 2013, it was officially renamed the Vietnam Bank for Agriculture and Rural Development (Agribank) Hai Duong Province Branch until now.

On January 11, 2023, authorized by the Prime Minister, Governor of the State Bank of Vietnam Nguyen Thi Hong awarded the Prime Minister's certificate of merit to Agribank Hai Duong.

When it was still the Hai Hung Provincial Agricultural Development Bank, the unit started with a total operating capital of only VND 22.4 billion and outstanding loans of VND 30.5 billion. The goal was to provide credit to the entire agricultural and rural sector, prioritizing investment in the three key economic programs of the State, including food, consumer goods, and export goods.

By the end of 1990, the unit's mobilized capital reached 64 billion VND, nearly 3 times higher than the first day of establishment, outstanding loans were nearly 52 billion VND, 1.7 times higher than when it was established. Because this was the period when the economy was transitioning to a market mechanism, the bank encountered many difficulties. A series of reform policies were implemented such as switching from subsidy to business accounting, rearranging the apparatus, and restructuring the operating network accordingly.

With appropriate development strategies, by the end of 1996, the total business capital of the unit was 599.4 billion VND, an increase of 534 billion VND compared to 1990. Total outstanding debt was 463 billion VND, an increase of 9 times compared to 1990. The period 1997-2017 marked the strongest transformation of Agribank Hai Duong. By 2017, the total outstanding debt of the branch reached 11,073 billion VND, an increase of 42.6 times compared to the time of the province's separation, with an average growth rate of 18.4%/year. Total mobilized capital reached 17,343 billion VND, an increase of nearly 41 times compared to the time of the province's separation, with an average growth rate of 22.8%/year.

New Aspirations

From 2018 to present, the branch's business activities have faced many challenges, the biggest being the impact of the Covid-19 pandemic. However, the Party Committee, Board of Directors, Trade Union, Youth Union and all employees of Agribank Hai Duong have inherited and effectively promoted the traditional strength of the unit. Overcoming difficulties, by the end of 2022, the branch's total capital reached more than 33,050 billion VND, the highest in the entire Agribank system and credit institutions in the province. Total outstanding loans reached nearly 19,900 billion VND, the highest in the area, ranking 8th in the entire Agribank system; more than 445,000 customers have transaction relationships, of which more than 418,000 customers deposit money, more than 27,000 customers borrow money.

Agribank Hai Duong currently has more than 445,000 customers transacting in the whole province.

Not out of the trend of the 4th industrial revolution, as well as the Government's national digital transformation program, Agribank Hai Duong has invested in and upgraded its infrastructure, especially digital infrastructure. Up to now, the branch has 30 transaction points, with 7 CDM (Cash Deposit Machine - automatic cash deposit machine), 35 ATMs, 95 card payment acceptance points and more than 2,000 QR code payment points covering transaction points throughout the province... Agribank Hai Duong has digitized information in all areas, from customer support to administration and operations. The branch has deployed the Agribank Digital digital banking platform and e-banking application on smart mobile devices, bringing customers a modern and convenient experience with many new features.

In addition to business activities, Agribank Hai Duong is always proactive in social security and charity activities in the province. In the period of 2013-2023 alone, Agribank Hai Duong has spent more than 61.5 billion VND to support charity activities. In particular, the branch has supported the prevention of Covid-19 epidemic in localities in the province with a total amount of more than 5.7 billion VND...

With a history of 35 years of innovation, development, inheritance and promotion of the tradition of solidarity, discipline and responsibility, Agribank Hai Duong has affirmed its role and position as a leading and key bank in the agricultural and rural financial market as well as a leading commercial bank in Vietnam in Hai Duong.

LE HONG PHUC
Director of Agribank Hai Duong province branch