The State Bank of Vietnam published a readout of Permanent Deputy Governor Doan Thai Son’s policy guidance to the Cooperative Bank of Vietnam at its 2025 member delegates congress in Phu Tho, urging it to further assert its role as the apex bank for the People’s Credit Funds (QTDND) system and to accelerate digital transformation. The congress also elected the Board of Directors and Supervisory Board for the fourth term (2026–2031), and introduced Nguyen Quoc Cuong as the new chair of the Board of Directors. SBV leadership highlighted the Cooperative Bank’s role in supporting nearly 1,200 People’s Credit Funds, including capital intermediation and liquidity support and efforts to expand financial access in agriculture and rural areas. Priorities set out for 2026–2031 included aligning with SBV’s direction on credit growth tied to safety and efficiency, focusing funding on priority sectors such as agriculture and rural development, strengthening inspection and supervision to identify and address risks, and coordinating with relevant agencies to resolve weak People’s Credit Funds. The Cooperative Bank was also asked to lead digital transformation across the network by supporting payment infrastructure and digital banking services for People’s Credit Funds, alongside measures to strengthen financial capacity, governance, and internal discipline. In his remarks, the incoming chair stated that the new leadership will incorporate SBV’s strategic guidance into the Cooperative Bank’s five-year development strategy, with a focus on supporting the People’s Credit Fund system and expanding modern products and services and staff training. SBV also presented SBV emulation flags to four Cooperative Bank collectives for 2024 performance and awarded the Governor’s commendations to one collective and 22 individuals for achievements covering 2020–2025 and 2023–2024.
State Bank of Vietnam 2026-03-31
State Bank of Vietnam calls on Cooperative Bank of Vietnam to reinforce its People’s Credit Fund apex role and lead digital transformation
The State Bank of Vietnam outlined strategic priorities for the Cooperative Bank of Vietnam at its 2025 member delegates congress, urging it to strengthen its role as apex bank for nearly 1,200 People’s Credit Funds and accelerate digital transformation. For 2026–2031, the Cooperative Bank is expected to align credit growth with safety and efficiency, focus funding on priority sectors such as agriculture and rural development, enhance supervision, and lead payment and digital banking infrastructure for the network. The congress elected new leadership for 2026–2031, appointing Nguyen Quoc Cuong as chair of the Board.