The State Bank of Vietnam held a ceremony in Dak Lak to announce the establishment of its Regional Branch 11, created by consolidating its provincial branches in Dak Lak, Kon Tum, Gia Lai, Dak Nong and Lam Dong, and convened a conference focused on expanding bank credit to support economic growth across the region. The headquarters of Regional Branch 11 is in Dak Lak. The Governor had previously appointed Nguyen Kim Cuong as Acting Director and designated deputy directors, with the reorganised branch structured into seven departments covering regional inspection, general affairs, two management and supervision units, accounting and payments, currency and vault operations, and administration and human resources. The branch oversees 115 first-level commercial bank branches, 82 second-level branches and 385 transaction offices, five Vietnam Bank for Social Policies branches and 51 people’s credit funds, with outstanding credit estimated at VND 590.618 trillion at end-February 2025, up 0.54% from end-2024 and representing 3.75% of national outstanding credit. Regional Branch 11 will analyse local economic and monetary conditions to support the Governor’s management of monetary policy, banking activity and foreign exchange, coordinate with provincial authorities, and direct credit institutions in delivering 2025 sector priorities and credit programmes, including resolving implementation bottlenecks and escalating issues with proposals to amend relevant mechanisms and policies.

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