State Bank of Vietnam Region 3 holds working session with Son La's central wards

The State Bank of Vietnam (SBV) Region 3 branch on May 18 held a working session between the banking system and the wards of To Hieu, Chieng Coi, Chieng An and Chieng Sinh.

At the working session between the SBV's Region 3 branch and central wards.

The four wards currently house four branches of State-owned commercial banks namely Agribank, Vietcombank, BIDV and VietinBank,  along with seven branches of joint-stock commercial banks, including ABBank, LPBank, HDBank, MBBank, VPBank, SHB and Bac A Bank.

The area also has one level-II branch of Agribank (To Hieu branch), eight transaction offices of commercial banks, 12 transaction points operated by the Vietnam Bank for Social Policies, and one inter-ward people’s credit fund, basically meeting local residents’ banking and transaction needs.

As of April 30, 2026, total mobilised capital of credit institutions in the four wards had reached 15.42 trillion VND (585 million USD), while total outstanding loans stood at 13.87 trillion VND, accounting for 26.3% of the province’s total outstanding credit. Of the figure, loans for production activities amounted to 4.85 trillion VND, while lending for trade and services reached 4.92 trillion VND, representing more than 35% of total outstanding loans in the four wards. Outstanding loans for small- and medium-sized enterprises totalled 6.51 trillion VND, equivalent to 50% of total outstanding credit in the area.

A leader of Chieng Sinh ward speaks at the event.

During the first four months of 2026, credit institutions received 6,757 loan applications, of which nearly 88% were eligible for lending approval. Credit quality remained largely under control, with the bad debt ratio maintained at 0.91%, lower than the provincial average.

Cashless payment activities continued to expand, with 29 ATMs and 83 points of sale (POS) operating stably across the four wards, while more than 236,000 active payment accounts were recorded. Digital banking services, QR-code payments and 24/7 money transfer services have become increasingly popular among local residents.

A representative of Agribank Son La branch delivers remarks at the event.
A leader of the SBV Region 3 branch delivers remarks at the event.

A leader of the SBV's Region 3 branch urged Party committees and authorities in the wards to continue closely coordinating with the banking sector in managing monetary and credit activities, and creating favourable conditions for credit institutions to expand their networks and effectively implement credit programmes serving socio-economic development. He also stressed the need to strengthen communication efforts and support local residents in accessing formal, safe and effective loans.

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