Outstanding balance grows 5.8% in first half: Social Policies Bank

As of June 30, Vietnam Bank for Social Policies (VBSP) posted its outstanding balance for the first half of the year at the total of more than VND181.76 trillion (US$7.9 billion), up 5.8% compared to the same period last year.

The rate of overdue and charge-off debts made up 0.81% of the total outstanding balance.

Meanwhile, the VBSP’s outstanding balance for credit programmes assigned by the Prime Minister exceeded VND160.83 trillion (US$6.99 billion), meeting 67% of the yearly plan.

The total credit for social welfare reached VND189.105 trillion (US$8.32 billion) over the period, an annual increase of 7.8%. 

The credit helped nearly 137,000 people secure jobs and almost 10,000 disadvantaged students pursue their study.  It also contributed to the construction of close to 840,000 clean water and sanitation facilities in rural areas, as well as over 14,600 houses for poor families.

The VBSP said it has followed the directions of the Government and State Bank of Vietnam, and worked closely with relevant agencies and sectors to complete its assignment.

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

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