During the past years, the Bank for Agriculture and Rural Development (Agribank) – Cam Lam Branch has developed forms of capital mobilization effectively suitable with local features, and lending for agriculture and rural development.
During the past years, the Bank for Agriculture and Rural Development (Agribank) – Cam Lam Branch has developed forms of capital mobilization effectively suitable with local features, and lending for agriculture and rural development.
Agribank Cam Lam has many creative solutions in mobilizing capital, increasing credit balance, lowering overdue debts and exceeding profit target. Beside diversified forms of capital mobilization and flexible interest rates, the bank has improved services’ quality continuously. Up to now, total operating capital of the bank has hit VND850 billion, increasing by 9.7 times over the figure at the founding time in 2007. The annual growth rate of deposits is 25.5%/year on average. The number of depositors has also risen remarkably with more than 14,600 ones.
At present, Agribank Cam Lam is lending more than 4,500 borrowers with total credit balance of VND460 billion till November, 2017. Credit quality is always attached importance, the rate of bad debts have reduced from 1.13% in 2007 to 0.18% in 2017. Besides, Agribank Cam Lam has followed the orientation of Agribank Khanh Hoa, which focuses on agriculture in the district like mango farms, breeding farms, handicraft, aquaculture, etc. “I have raised pigs since 2004. Since then, I have been lent by Agribank Cam Lam. Owning to it, my pig farms has more than 2,000 ones now. Up to now, may total investment has come to VND15 billion, including the loan of VND4.5 billion from Agribank Cam Lam”, said Nguyen Thi Hong Phuong, a pig farm owner in Cam An Bac Commune.
Agribank Cam Lam has also given credit to small and medium-sized businesses and traders in the district, contributing to the local economic development. A basket making business owner named Tran Thi Thuy said, “Initially, we made baskets by hand, so our income is very low. In 2013, by the loan from Agribank Cam Lam, I bought more machine to improve production. Now our business is creating jobs for about 100 leisure laborers in Cam Hiep Nam Commune and some neighboring communes.”
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According to Le Anh Tuan, director of Agribank Cam Lam, in the time to come, the bank will keep main role in investing local agriculture.
Cam Lam District has suffered heavy damage by the storm Damrey. Agribank Cam Lam has coordinated with the local authority to collect information about damage of the bank’s clients. According to the statistics till November 15, 169 clients of the bank have suffered damage worth more than VND22 billion, 50% of the which are loans from the bank. Most of the damage is in fruit planting (mango, banana), breeding (chicken) and aquaculture. To support them, solutions like structuring debts, extending debt payment time, reducing or exempting interests, giving new loans, etc.
Phan Huong
Translated by T.T
