Outstanding balance grows 5.8 percent in first half: Social Policies Bank
Updated : Thursday, July 12, 2018 9:44 AM (GMT+0700)

Asof June 30, Vietnam Bank for Social Policies (VBSP) posted its outstandingbalance for the first half of the year at the total of more than 181.76trillion VND (7.9 billion USD), up 5.8 percent compared to the same period lastyear.

 
Transactions at the Vietnam Bank for Social Policies - Photo: VNA

The rate of overdue andcharge-off debts made up 0.81 percent of the total outstanding balance.

Meanwhile, the VBSP’soutstanding balance for credit programmes assigned by the Prime Ministerexceeded 160.83 trillion VND (6.99 billion USD), meeting 67 percent of theyearly plan.

The total credit for socialwelfare reached 189.105 trillion VND (8.32 billion USD) over the period, anannual increase of 7.8 percent. 

The credit helped nearly137,000 people secure jobs and almost 10,000 disadvantaged students pursuetheir study.  It also contributed to the construction of close to 840,000clean water and sanitation facilities in rural areas, as well as over 14,600houses for poor families.

The VBSP said it hasfollowed the directions of the Government and State Bank of Vietnam, and workedclosely with relevant agencies and sectors to complete its assignment.

Established in 2012, theVBSP is a non-profit bank offering full range of financial services to the poorat preferential terms and subsidised rates.

Source:VNA 

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