VBSP Board of Directors held the regular meeting of quarter II, 2022

(VBSP News) On July 7th in Hanoi, VBSP Board of Directors (BOD) held the regular meeting of Quarter II, 2022. Ms. Nguyen Thi Hong - Member of the Party Central Committee, Governor of the State Bank of Vietnam (SBV) and Chairwoman of VBSP’s BOD attended and chaired the meeting.

SBV Governor and Chairwoman of VBSP Nguyen Thi Hong, chaired the meeting

      Attending the meeting were Mr. Luong Quoc Doan, Member of the Party Central Committee, Chairman of the Farmers' Association and member of the VBSP’s BOD; other members of the BOD, members of the Board of Advisory for BOD, Deputy General Directors, Chairman of VBSP’s Work Union, Chief Accountant, Directors of functioning Departments at the Head Office, Training Center, IT Center and Transaction Center.
    Speaking at the meeting, Ms Nguyen Thi Hong, SBV Governor and Chairwoman of the VBSP's BOD emphasized: Recently, the Covid-19 pandemic has been controlled, all regions on nation-wide have both effectively controlled the disease and also restored socio-economic development, improved and enhanced people’s living standards. The National Assembly also promulgated the Resolution No.43/2022/QH15 dated January 11th2022 about fiscal policy, currency to support the socio-economic recovery and development program; The Government promulgated the Resolution No.11/NQ-CP dated January 30th about the socio-economic recovery program and implemented Resolution No.43/2022/QH15 to bring our country to overcome difficulties shortly, not miss the process of global economic recovery and create foundation and favourable conditions to develop socio-economic in the 2021-2025 period and the following years. In particular, the National Assembly, the Government entrusted VBSP with very important tasks. Therefore, from the first months of the year, following the directions of the BOD, the Executive Board has directed VBSP’s staffs and employees to focus and actively implement all activities comprehensively.

The BOD member and VBSP General Director Duong Quyet Thang presented the report of quarter II, 2022

      As of June 30th, 2022, the total assets reached VND 286,619 billion, increased by VND 29,844 billion compared to 2021. Local authorized funds transferred to VBSP to provide loans to social policy beneficiaries reached VND 28,394 billion, increased by VND 3,692 billion compared to 2021. Total outstanding loans of policy credit programs reached VND 273,541 billion, an increase of VND 25,571 billion compared to December 31st, 2021 serving more than 6,4 million active customers. In particular, VBSP has focused on implementing Resolution No.11/NQ-CP dated January 30, 2022 on the socio-economic recovery and development program and deploying Resolution No.43/2022/QH15. As of June 30th 2022, the whole system have increased by VND 8,896 billion of the outstanding loans of lending programs according to Resolution No.11/NQ-CP with more than 213,000 borrowers.
      Besides the growth of outstanding loans, debt quality continued to be maintained stably. Ratio of overdue and frozen debt accounted for 0.7%/total outstanding loans; in which overdue debt accounted for 0.2%.

The meeting scene

     To complete the assigned tasks, the BOD Chairwoman requested the whole system to continue to advise the Government, ministries, departments, branches, committees and local authorities at all levels to well implement Directive No. 40-CT/TW, Conclusion No. 06-KL/TW of the Secretariat and Decision No. 1630/QD-TTg of the Prime Minister in the new period. Actively and proactively mobilizing capital sources, performing well the collection of due debt, promoting lending to policy credit programs and timely disbursing to meet the capital needs of the customers, fulfilling the growth plan targets assigned by the Prime Minister and ensuring the liquidity of the whole system. At the same time, developing a credit plan in 2023 for the whole system.
    In addition, VBSP coordinates with relevant ministries, agencies and units and directs units throughout the system to effectively implement Resolution No. 11. The units throughout the system advise local authorities to organize a review of 20 years of implementing preferential policy credit for poor households and other policy beneficiaries specified in Decree No. 78/2002/ND-CP in the locality. Continuing to focus on digital transformation, implementing key projects to provide comprehensive banking and financial products and services to VBSP's customers.

                                                                                                                                                                                          vbsp.org.vn