New BOD Chairman hosts 33th regular meeting, Quarter III/2011

(VBSP News) On the morning of 16th September 2011, Hanoi, VBSP organizes the 33th regular meeting of Board of Directors (BOD), Quarter III. Present at meeting includes Mr. Nguyễn Văn Bình, Central Party Member, Governor of State Bank of Vietnam cum BOD Chairman of VBSP and other BOD members.

According to the VBSP's operation report as of 31th August 2011, total VBSP's assests reach VND 104,435 billion, increasing VND 12,539 billion, equivalent to 85.7% of annual plan, of which: funds from State Budget increases VND 567 billion, borrowings from SBV and State Treasury rises VND 3,025 billion, funding mobilization and commercial interest-rate borrowings are up VND 8,305 billion, issuance of Government Bond is up VND 2,135 billion and savings from poor households via Savings & Credit Groups increases VND 434 billion.

Total outstanding loans are over VND 96,449 billion, an increase of VND 6,988 billion, achieving 47.9% of annual plan, which focuses on such loan schemes as disadvantaged student loans, lending to poor households, clean water supply and rural sanitation, job creation, housing loans and lending to migrant workers abroad for definite term etc.

In the regular meeting, SBV Governor cum BOD Chairman of VBSP emphasizes: “VBSP should keep its position affirmation in poverty reduction and social security”.

Developing the above achievements, during months in late 2011, VBSP continues to concentrate on due loan collection, fund revolving and fund mobilization via Government Bond issuance, credit disbursement for disadvantaged students term I in 2011 - 2012, savings mobilization from poor households via Savings and Credit Groups, improvement in communal mobile transaction points and credit quality, which makes a great contribution to poverty reduction and social welfare.