Thoroughly understanding the latest government directives, Dak Lak provincial banking sector is vigorously innovating the operational mindset, shifting its focus from expanding scale to enhancing quality.

This shift in operational thinking is evident as credit institutions no longer pursue rapid, overheated growth, but instead prioritize credit quality. In the current investment structure, banks are prioritizing crucial production sectors, involving in high-tech agriculture, export-oriented agricultural value chains (coffee, durian, rubber), along with supporting industries. This approach not merely helps mitigate bad debt risks but also establishes a solid foundation for Dak Lak provincial consistent economic development.

Customers conducting transactions at the Vietcombank - Dak Lak branch.

Furthermore, the banking sector is also leveraging the synchronized coordination between monetary policy and local fiscal policies to foster a favorable business environment, which supports enterprises, particularly small alongside medium-sized ones, in maintaining financial health coupled with business operations, thereby contributing to the safety together with transparency for the local financial market.

Digital transformation and management modernization

Beyond unlocking capital flows, the Dak Lak banking sector faces the imperative of comprehensively modernizing its systems. In Dak Lak province, digital transformation (DX) extends beyond simply adopting cashless payment technologies; it also encompasses the optimization of online credit delivery processes, making modern financial services easily accessible to residents in remote, isolated, along with ethnic minority areas. Mr. Nguyen Duy Tuan, Director of the Dak Lak Branch of Military Commercial Joint Stock Bank (MB), stated that the branch is actively accelerating DX, developing comprehensive financial packages, combined with applying technology across credit appraisal, disbursement, alongside management, thereby enhancing customer experience coupled with operational efficiency.

Military Commercial Joint Stock Bank - Dak Lak branch actively implementing digital transformation to enhance customer experience and optimize operational efficiency.

Concurrently, the rapid technology advancement brings arising risks, including high-tech crime, online fraud, together with financial scams. Consequently, the local credit institutions concentrate on strengthening risk management capabilities, internal controls along with cybersecurity enhancement. Furthermore, the Dak Lak banking sector prioritizes enhancing competitiveness through standardized governance. With support from the State Bank of Vietnam regarding the amendments in conjunction with additions of laws related to credit institutions alongside anti-money laundering, the banks province-wide are progressively improving workforce quality, applying AI coupled with big data to market analysis, enabling more accurate lending decisions tailored to specific economic scenarios.

Mr. Le Phuc Dong, Director of VietinBank’s Dak Lak Branch, shared that to align with local economic growth objectives, the branch has decided to aggressively pursue capital mobilization together with credit targets. DX is viewed as a fundamental solution to optimize workflows as well as increase the value contributed by the staff. Additionally, the bank commits to providing capital for major projects, industrial zones, combined with FDI enterprises to generate strong economic development momentum.

Through solid strides in institutional reform coupled with technology adoption, the Dak Lak banking sector is contributing to establishing a modern, transparent financial environment, ensuring the resources necessary for long-term development.

Translated by TRINH THUY