Banks enhance on-site capital attraction

Capital source plays an important role to banking industry. Therefore, in recent years, banks in Binh Duong have implemented many solutions to attract on-site capital sources to meet the demands.

Many capital mobilization solutions

As a bridge, in recent years, banks in Binh Duong have set up and implemented many plans to attract capital and gained encouraging results. At Agribank Binh Duong, in 2018, the bank attracted total deposit of 22,025 billion VND, reaching 99.9% target assigned by the Central Government; BIDV Binh Duong attracted 17,661 billion VND, up 55.2% compared to business plan from the beginning of the year...

Tran Ngoc Linh, Director of BIDV Binh Duong, said that the expansion of operations was parallel to the continuous construction and development of products suitable for many customers, and characteristics of the province, contributing to improving competitiveness and fulfilling their goal of becoming a multi-functional retail bank.

Clients make transactions at HDBank Binh Duong.

Other commercial banks in the province are also implementing many promotional programs, such as loyalty programs for depositors, to attract capital, especially deposits.

In fact, banks have continuously expanded their network to localities. By the end of 2018, the province had 66 credit institutions and units. This has created favorable conditions for banks to mobilize idle capital among the population; People in the province also got easy access to banking services, especially people in rural communes.

In parallel with the expansion towards grassroots, banks also effectively implemented solutions to mobilize the maximum capital in localities. Accordingly, in addition to maintaining a reasonable deposit interest rate, banks allocated capital mobilization targets to each official, while improving service quality and expanding operations and network, innovating customer care policies... to attract idle money among residents and economic organizations. Besides, banks assigned officials to stick with potential customers and mobilize deposits; focused on the implementation of growth targets of deposits, loans, and handling bad debts according to plan.

In addition to improving capacity itself to meet demands of the market, banks also regularly organized training of professional knowledge and working style, attitude for their officials, actively implemented administration procedure reform to accelerate procedures, ensure security of treasuries...

With effective ways, good initiative, creativity, the banking industry created a good change in capital mobilization, ensuring the supply of a large capital amount to economic activities in the province. As a result, in 2018, the total deposit of banks in the province reached VND176,793 billion, up 5.35% compared to 2017. This figure helped to satisfy capital demands in the province.

To improve the capability of capital mobilization

Regarding capital mobilization of commercial banks at the present in the province, Le Thi Dieu Hien, living in Hiep Thanh ward, Thu Dau Mot City, said her business specialized in construction and a number of other business areas. Apart from borrowing loans, her business also deposited money at commercial banks in the area. With a continuous frequency of depositing and then withdrawing capital for re-production, she said that deposit and lending rates of banks were applied in accordance with their announced rates. Most banks had enthusiastic and attentive service style and modern material facilities. This has created favorable conditions for businesses to ensure their production and business activities.

It can be said that by effective measures, capital mobilization of the banking system and credit institutions in the province is shifting to the right direction and strengthening customer’s trust in capital mobilization.

According to Vo Dinh Phong, Director of SBV Binh Duong, capital mobilization works in 2018 recognized a great effort from the banking system in the province. However, difficulties ahead are posing significant challenges to the banking system in capital mobilization task in 2019. In order to take initiative in credit investment, banks need to attract idle money among the population. In the coming time, the banking industry will continue to strictly implement SBV’s regulations and instructions on interest rates, apply reasonable lending rates on the basis of deposit rates and risk level of loans; not collect fees related to loans (except for some certain fees); upgrade transaction offices with full banking services to enhance capital mobilization capacity in potential areas.

Besides, the banking industry in the province will implement tight and flexible monetary policies, ensuring growth targets and improving credit quality; continue to well implement banking-business connection programs; strictly control, actively recover bad debts, and limit newly arising bad debts; developing banking services and utilities...

Reported by Thanh Hong – Translated by Ngoc Huynh

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