Growth must be associated with financial inclusion quality

(VBSP News) That is the direction of Mr. Duong Quyet Thang, General Director of VBSP, Member of the BOD at the Conference hold in July to deploy tasks of last months of year 2017.

CEO Duong Quyet Thang addressed a speech at the conference

Complete 71% of growth plan

During the first 6 months of 2017, VBSP closely followed the resolutions of the Government, the Directive of the Governor of the State Bank of Vietnam and the resolutions of the Board of Directors, cooperated closely with mass organisations to fulfill assigned tasks in all domains of operation. Capital sources have timely responded to the need for disbursement of various policy credit programs, consolidation and improvement of credit quality are focused; inspection, staffing, training, accounting and financial management, communication, office, administrative procedures simplification are well implemented.

As of 30th June 2017, total capital source of VBSP was over VND 173 trillion, increased by VND 13,816 billion compared to the end of 2016. Of which, local entrusted capital reached VND 8.112 trillion, accounting for 4.6 % of total capital; Funding mobilization from economic organizations, individuals and residents is VND 8,335 billion, savings deposits through Savings and Credit group is VND 6,101 billion.

Total outstanding loans reached VND166,426 billion, up 5.8% as compared to the end of 2016; of which, outstanding loans assigned by the Government reached VND 148,960 billion, completed 71% of the plan, with nearly 6.8 million active poor and policy beneficiaries customers. Average outstanding loan per households is 25 million VND.

The quality of policy credit is constantly being strengthened. Overdue debt and frozen debt accounted for only 0.82% of total outstanding loans, of which overdue loans accounted for 0.43%.

Deputy CEO Tran Lan Phuong overviewed VBSP's operation results over 6 past months

In the first six months of 2017, provinces and cities throughout the country were interested in supporting VBSP with offices, facilities, working equipment and transferring local budgets to VBSP for lending. Local budget funds entrusted to VBSP for providing loan at the local increased by VND 1,329 billion compared to the end of 2016.

Deputy CEO Nguyen Van Ly overviewed credit results and risk treatment in past six months

Efforts to ensure both quality and quantity

In order to complete the growth plan assigned by the Prime Minister, General Director of VBSP, Mr. Duong Quyet Thang requested the branches to actively exploit and mobilize resources from the localities to supplement funding for policy beneficiaries in the area; Coordinate with local government and mass organizations in the area to ​​review and get loan demand of poor households, near-poor households and policy beneficiaries to develop the credit plan in 2018, disburse loans in time to meet the demand for loans of beneficiaries according to the plan assigned in 2017.

Delegates attended the conference

In addition, regarding the task of controlling credit quality, Mr. Duong Quyet Thang also requested the units continue to focus on steering consolidation and improvement of credit quality in the whole system. Particularly for branches with low and unstable credit quality, it is necessary to well perform the recovery of due debts, overdue debts and interests.

Following is some photos on rewards for excellent units and individuals in VBSP's system:

                                                                                                                                                                                                          Source: vbsp.org.vn