On January 19, 2024, in Hanoi, Vice President of Vietnam Women’s Union Tran Lan Phuong took the helm at the TYM Review Conference to deliberate on TYM’s performance in 2023 and to lay out the roadmap for the implementation of the 2024 business plan.
The conference was also graced by the presence of Member of the Presidium – Head of the Organization Department – Central Vietnam Women’s Union Bui Thi Hong, Member of the Executive Committee – Deputy Head of the Department of Supporting Women’s Economic Development Dao Mai Hoa, TYM’s Board of Directors, Board of Management, Board of Control, and leaders of units under TYM.
The conference was also graced by the presence of Member of the Presidium – Head of the Organization Department – Central Vietnam Women’s Union Bui Thi Hong, Member of the Executive Committee – Deputy Head of the Department of Supporting Women’s Economic Development Dao Mai Hoa, TYM’s Board of Directors, Board of Management, Board of Control, and leaders of units under TYM.
During the conference, TYM’s Deputy General Director Tran Thi Tuyet Nhung presented a comprehensive overview of the MFI’s accomplishments in 2023 and outlined the tasks set for 2024. As of the end of 2023, TYM served 206,056 members and customers in over 90 districts in 13 provinces and cities in the North and North Central regions.
Despite the challenging economic landscape in 2023, TYM exhibited resilience by dynamically adjusting policies to sustain credit growth. In 2023, TYM disbursed 134,080 loans with total of VND 4,867.1 billion (reaching 91.7% of the annual plan). The total loan outstanding reached VND 2,736.1 billion (surpassing the annual plan at 100.3%). PAR is impressively low at 0.0009%. TYM’s savings reached VND 2,434.4 billion (exceeding the plan by 105.1%).
Positive outcomes were also realized in the implementation of the Financial Inclusion Strategy. In 2023, 45,494 TYM customer accounts installed TYM mobile app (accounting for 22% of the total customer base). This technological integration facilitated smoother and quicker transaction for customers. Non-cash payments at TYM also saw substantial growth, with 34,278 customers conducting transactions with TYM through bank accounts by the end of December 2023 (an increase of 28,956 customers compared to 2022), representing a 16.6% of the total customer base.
Beyond business operations, TYM allocated more than 5 VND billion for community and social responsibility initiatives. These efforts included supporting the construction of 13 subsidized houses for women facing difficulties, granting 373 scholarships to TYM members’ children and distributing 1,636 gifts to TYM members. TYM also bolstered women’s capacity through 38 thematic classes and 41 economic model tours for TYM members. TYM also supported 58 new rural projects and coordinated with the Vietnam Women’s Union at all levels to organize many sports and cultural activities in TYM-operated areas.
Vice President of Vietnam Women’s Union Tran Lan Phuong expressed her acknowledgment and commendation for TYM’s accomplishments in 2023. The Vice President emphasized 3 words “Proactive, Flexible, Drastic” to describe the direction, administration and implementation of TYM’s activities. This approach enabled TYM to navigate and triumph over the challenges of 2023 and achieved positive results. TYM’s coordination with Vietnam Women’s Unions at all levels was also underscored as pivotal, yielding extensive operational effectiveness not only for TYM’s members and customers but also for VWU’s members and local communities they served. In particular, along with the development of the banking industry in the digital era, members/customers are encouraged to install and use the TYM mobile app as well as convert to non-cash payment.
For the mission for 2024, Vice President Tran Lan Phuong requested TYM to closely align with the directives of the Central Vietnam Women’s Union and the Governor of the State Bank of Vietnam. Key priorities include the promotion of non-cash payments and digital transformation, along with efforts to expand the customer base accessing TYM’s services.
Acknowledging the guidance from Vice President Tran Lan Phuong, Chairman of TYM’s Board of Directors Dinh Thi Tuyet Nhung, on behalf of the entire TYM staff, committed to diligently and fully implement the outlined directives with specific and practical solutions, targets, and actions. TYM expressed its determination to sucessfully accomplish the set tasks in 2024.
The conference also featured the presentation of emulation titles and rewards in 2023 to individuals and groups with outstanding achievements during the year.
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