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Updated: 2020-01-08 17:20:51

MOU signing ceremony on cooperation between VBSP and BSH Bank, Germany

(VBSP News) On 08 January 2020, a Memorandum of Understanding (MOU) signing ceremony is held at VBSP’s headquarter in Hanoi between VBSP and Bausparkasse Schwabisch Hall AG Bank, Germany (BSH), under the observation of German Ambassador to Vietnam Guido Hildner. The MOU aims to unify the content between VBSP and BSH on cooperation in experience exchange on social housing savings and lending in the future.

German Ambassador to Vietnam Guido Hildner gave a speech at the meeting

The meeting welcomes Mr. Guido Hildner - German Ambassador to Vietnam; Mr. Christian Oestreich - Head of International Markets, BSH; Mr. Michael Dorner - Foreign Project Manager, BSH; Mr. Le Ngoc Bao - Member of the BOD, Head of Supervisory Board of VBSP; Deputy General Directors and number of Heads of Functional Department at VBSP.

Deputy General Director Tran Lan Phuong gave a speech at the meeting

Speaking at the meeting, Deputy General Director Tran Lan Phuong said VBSP is currently implementing more than 20 credit programs for the poor and other beneficiaries. By the end of 2019, the total outstanding loans for policy has reached VND 206,805 billion with more than 6.5 million active borrowers; in which 04 housing lending programs are implementing including: Housing for the Poor; Housing against flooding for the Poor in the North Central and Central Coast regions, Deferred payment housing in Mekong River Delta  and Social housing. The outstanding loans for 4 programs are over VND 7,156 billion with 416,387 active customers.

The view of the meeting

Mr. Christian Oestreich – Head of International Markets, BSH hopes that with the success of implementing the social housing loans and housing saving model in Germany, there are more lessons and experiences to support VBSP in housing saving plan and apply BSH’s model appropriately in the context of Vietnam.

Attending the meeting, Mr. Guido Hildner - Ambassador of the Federal Republic of Germany in Vietnam believed that the cooperation between VBSP and BSH does not only exchange the experiences in the mutual interested fields and research a new effective cooperation approach, but also spread the friendship between the Government of Vietnam and the Federal Republic of Germany.

At the meeting, the two sides have discussed and agreed on the content of the MOU between VBSP and BSH on cooperation in experience exchange on social housing savings and lending in the future.

VBSP and BSH signed the MOU

BSH leads the German market in the field of housing savings and is the largest housing savings bank in the world. Currently, BSH has branches in Slovakia, Czech Republic, Hungary, Romania and some regions of China, etc.

BSH receives savings deposits and supplies loans for those saving customers. According to this model, the mobilized fund of BSH is from customers’ contribution through Savings Contract. Customers with future housing agree with BSH on the savings size and make monthly savings with a fixed interest rate. When customers have deposited at least 50% of the value of the future house, they can borrow the remaining 50% with low and fixed interest rates agreed upon the Savings Contract.

Source: vbsp.org.vn



Poor Households

Lending to poor households 6,6%/year
Lending to poor households in 64 poor districts as stipulated by the Government Resolution No.30a in 2008 3,3%/year

Near Poor Households

Lending to near poor households 7,92%/year


Lending to disadvantaged students 6,6%/year

People in need of loans for job creation

Lending to business establishments owned by war invalids and handicapped persons 3,3%/year


Term Deposit Rate
Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year