The State Bank of Vietnam published a message from Governor Nguyễn Thị Hồng marking the 30th anniversary of Vietnam Cooperative Bank, praising its development and positioning it as the core bank supporting the People’s Credit Fund system while urging further upgrading of its operating model and service quality. The message notes that Vietnam Cooperative Bank, originally established as the Central People’s Credit Fund, has expanded its network and strengthened its financial capacity, and since converting to a cooperative bank model in 2013 has supported People’s Credit Funds to develop safely and stably, including by contributing to poverty reduction, curbing “black credit”, and improving living standards in rural and disadvantaged areas. It also highlights the bank’s awards, including a Second-class Labour Order, and calls for continued reform to become a modern multifunction financial institution that anchors system linkages and supports People’s Credit Funds and the wider cooperative economy nationwide amid increasingly complex conditions for Vietnam’s credit institutions.
State Bank of Vietnam 2025-03-28
State Bank of Vietnam calls on Vietnam Cooperative Bank to modernise its model as it marks 30 years
Governor Nguyễn Thị Hồng celebrated the 30th anniversary of Vietnam Cooperative Bank, emphasizing its support for the People’s Credit Fund and urging upgrades to its model and services. Since becoming a cooperative bank in 2013, it has expanded its network, aiding poverty reduction and curbing "black credit." The message advocates for reforms to modernize it into a multifunction financial institution amid complex conditions for Vietnam’s credit institutions.