Lending Business in Vietinbank - Chuongduong Branch
I. Introduction 1. Rationale
In the market economy, where the relationship between commodity and currency is expanding, the demands for capital, social and economic exchanges become increasingly necessary and urgent. Commercial banks meet most of the needs of the market economy and they have more advantages than other financial intermediaries.
The Communist Party and State have identified an important task in the future to carry out industrialization and modernization of the national economy. To achieve this, we need to have large medium and long-term capital to build infrastructure, technological innovation, advanced technical equipment, and product expansion to economic sectors, thus creating a momentum for development. Therefore, only the new medium and long-term capital can help us to accomplish this goal. So that medium and long-term capital plays an important role for the development of the economy.
Promoting integration of banks, building strong banking system to become the main capital mobilization source, is the best way for the economy as Vietnam which is gradually restructuring capital-oriented in the direction of industrialization and modernization. Integrating international economics, monetary and financial markets in Vietnam will grow stronger both in width and depth, especially the increase in the activities of financial institutions such as commercial joint stock banks, non-bank financial institutions and multinational financial institutions. Institutional market economy in Vietnam will continue to be improved fuller, more uniform, more transparent and more equitable among all market participants. It is clear that these changes will create for Vietnamese banks new business environment with more favorable conditions, opening up business opportunities and cooperation for mutual development. Not out of that trend, Vietinbank as well as Vietinbank – Chuong Duong Branch also determined to enhance its performance, especially in lending business.
In the market economy, where the relationship between commodity and currency is expanding, the demands for capital, social and economic exchanges become increasingly necessary and urgent. Commercial banks meet most of the needs of the market economy and they have more advantages than other financial intermediaries.
The Communist Party and State have identified an important task in the future to carry out industrialization and modernization of the national economy. To achieve this, we need to have large medium and long-term capital to build infrastructure, technological innovation, advanced technical equipment, and product expansion to economic sectors, thus creating a momentum for development. Therefore, only the new medium and long-term capital can help us to accomplish this goal. So that medium and long-term capital plays an important role for the development of the economy.
Promoting integration of banks, building strong banking system to become the main capital mobilization source, is the best way for the economy as Vietnam which is gradually restructuring capital-oriented in the direction of industrialization and modernization. Integrating international economics, monetary and financial markets in Vietnam will grow stronger both in width and depth, especially the increase in the activities of financial institutions such as commercial joint stock banks, non-bank financial institutions and multinational financial institutions. Institutional market economy in Vietnam will continue to be improved fuller, more uniform, more transparent and more equitable among all market participants. It is clear that these changes will create for Vietnamese banks new business environment with more favorable conditions, opening up business opportunities and cooperation for mutual development. Not out of that trend, Vietinbank as well as Vietinbank – Chuong Duong Branch also determined to enhance its performance, especially in lending business.
References: Vietnamese: 1. Phan Thị Thu Hà (2009). Ngân hàng thương mại. Nhà xuất bản Đại học Kinh tế quốc dân, Hà Nội 2. Tô Ngọc Hưng (2009). Tiền tệ, Ngân hàng và Thị trường Tài chính. Nhà xuất bản Khoa học và kỹ thuật, Hà Nội 3. Ngân Hàng Công Thương Việt Nam – chi nhánh Chương Dương (2009, 2010, 2011). Bảng cân đối vốn kinh doanh tổng hợp. English: 4. Peter S. Rose (Fifth edition). Commercial bank Managerment. MacGraw-Hill Irwin Website: 5. Vietinbank, 2011. Annual report. [online] Available at: <http://www.vietinbank.vn/web/home/en/annual/index.html> [Accessed on 12 December, 2012]