Early days of the Bank for Construction - Hai Duong Branch

Publish date
14/03/2022

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The Bank for Construction - Hai Duong Branch was one of the first 11 branches in the banking sector which were established on 27 May 1957. This was where our generations of bankers have lived and fully devoted to the cause of construction and investment for the development of our homeland.

On the early day, our branch had only 9 people, 1-2 months later the number of staff increased to more than 10. We only carried out fund allocation, rather than lending then. Funds were taken from local budgets and central budgets. Projects in charge of by central government would use central budget. Similarly, those in charge of by localities would use local budget. Projects subject to allocation were mainly irrigation, dredging projects, construction of stores, livestock farms, schools (Northeast Hung Hai, Chi Linh - Nam Sach irrigation…) , Dong Uong Hai high-voltage transmission line (Dong Anh, Uong Bi, Hai Phong); Cam River crossing project (Hai Phong).

Since its establishment in 1957, the Branch’s head-office had changed several times, first at 27 Quang Trung, then 24 Pham Hong Thai after nearly 7 months. After a while, it moved to 1A Hang Dong (now called Dong Xuan), then moved back to 40 Xuan Dai. In 1964, the Branch asked the Provincial People's Committee to allocate a large land lot near the station and built a two-storey building there. It was the first 2-storey building in the North - head-office of Bank for Construction - Hai Duong Branch

Due to limited knowledge and qualification, we had to relentlessly study and train ourself. Although our training was not systematic like those of architectural or irrigation engineers, we still managed to sharpen our calculation skills based on our own experience and acumen. In the provisional charter 64/CP, the Government Council allowed the Bank for Construction to be a member in the acceptance work and participate in the analysis of investment plans. Right from the stage of investment estimation, Bank for Construction was consulted to make decision on investment. To be able to complete the assigned tasks, we had to recruit construction engineers, transportation engineers, irrigation engineers... In addition to directly participating in the investment stages of the project, they also provided training on engineering to us.

During the period when the US bombarded bridges and roads, and devastated the city (1965 - 1967), we had to evacuate. The Branch was closed, and assigned to Thi Chinh company for management.  In this situation, it was extremely hard for traveling. We had to use pontoon bridges at night because the enemy raided the whole day. The enemy attacked at 8 am, then we took control again, around 3 pm they attacked again. Knowing their routine, then we just arranged to avoid the attack schedule. It was difficult at that time, but we didn't feel miserable. Just hope that the war would end so that we could work again.

One of thousands of bridges that have been severely damaged

After that, the Bank developed relatively strongly because of the development of industry, leading to huge demand for investment. Thus, the Bank established 6 sub-branches, besides the branch in Hai Duong. Formerly called a sub-branch, now it is called a regional branch, that is an old word from 1951 when the bank was first established. By 1981, there were only 2 sub-branches left, which located in Hoang Thach industrial area and Pha Lai Thermal Power area. All other sub-branches in districts were dissolved.

In 1981, the Central Government assigned me to work as a consultant in Vung Tau Bank for Construction to advise the Branch on operations and organization. In 1982, I received retirement decision after 24 years with the ups and downs of Bank for Construction - Hai Duong Branch. And since then, many years have passed, I have always followed every step and every achievement of Hai Duong Branch in particular and Joint Stock Commercial Bank for Investment and Development of Vietnam in general.

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