VBSP: Breakthrough in a year full of challenges

On the morning of January 7, 2026, in Hanoi, the Vietnam Bank for Social Policies (VBSP) held a nationwide conference - combining in-person and online formats - to deploy its 2026 tasks. The event was chaired by VBSP General Director, Mr. Duong Quyet Thang.

General Director Duong Quyet Thang delivered a speech at the conference

In attendance at the in-person 2026 Task Deployment Conference were the leaders from VBSP’ Directors Board, Supervisory Board, Party Committee, Trade Union, as well as leaders from various departments and unit, including the Head Office, Transaction Center, Training Center, IT Center, leaders from VBSP’s provincial branchs prior to the restructuring.

Steady management - Comprehensive control - Streamlined apparatus - Accelerated digital transformation

In 2025, the socio-economic context witnessed numerous fluctuations, setting increasingly high demands for social security and public stability. Prolonged natural disasters, including storms and floods in various regions, further challenged social policy credit operations. Against this backdrop, VBSP closely followed directives from the Party, the Government and the State Bank of Vietnam. The entire system deployed synchronous solutions, proactively adapting while remaining steadfast in its mission to fulfill its assigned political tasks.

Adhering to the Party's guidelines on administrative restructuring, VBSP streamlined its operations from 63 branches to 34, aligning with the new provincial-level administrative structures. While 619 Transaction Offices were maintained and renamed, 29 additional offices were established in former branch locations to ensure service continuity. These efforts have kept VBSP's operations stable, efficient, and safe. Notably, local-level transaction activities continue to receive high praise from the Government and the public. With 9,965 transaction points and over 166,000 Savings and Credit Groups, VBSP serves as the “extended arm” of policy credit, operating close to the grassroots level to serve the people most conveniently, thereby ensuring the efficiency and sustainable growth of the whole system.

To maintain stable entrustment activities, VBSP coordinated with 04 mass organizations to re-sign agreement documents, clearly defining the entrustment content, lending responsibilities and fees for poor households and other policy beneficiaries. This proactive approach resolved legal obstacles and set a firm foundation for future policy credit efficiency.

Delegates attended the conference at VBSP’s Head Office

Following its restructuring, VBSP worked with the State Bank of Vietnam to implement Decision No. 1560/QD-TTg regarding the Implementation Plan for Directive No. 39-CT/TW to deploy the Action Program throughout the system. In practice, since the execution of Directive No. 40-CT/TW and the continued implementation of Directive No. 39-CT/TW, VBSP at all levels has proactively advised local governments to entrust budget funds to the bank. By the end of 2025, entrusted local budget capital reached VND 66,091 billion (USD 2.51 billion) - an increase of VND 15,410 billion (USD 586 million) over 2024 - significantly strengthening sustainable resources for social policy credit.

2025 also marked a milestone for VBSP’s digital roadmap. Implementing Resolution No. 57-NQ/TW on digital transformation, VBSP launched unified plans across the entire system. The “Digital Literacy” campaign further enhanced the digital skills of staff, improving service quality for policy beneficiaries. A key digital transformation task for VBSP in 2025 was the upgrade of the Intellect Core Banking system. This new version provides a vital technological foundation, standardizing and digitizing credit processes from application to debt collection. It also boosts security, data connectivity, and risk control for entrusted lending at the commune level.

Always Standing by the Poor

Outcomes of the implementation of VBSP’s social policy credit plan in 2025

Guided by the motto “Understanding the people's heart, dedicated service”, VBSP has successfully met its assigned tasks. By December 31, 2025, the total capital reached VND 426,262 billion (USD 16.20 billion), up VND 44,103 billion (USD 1.67 billion) from the previous year. VBSP also achieved a maximum credit growth of 12%, serving over 2.18 million poor households and policy beneficiaries. Total outstanding debt stood at VND 413,527 billion (USD 15.74 billion) with 6.73 million households, while the overdue and frozen debt ratio remained low at 0.54%.

Policy credit capital in 2025 delivered practical results, creating jobs for nearly 817,000 workers and supporting those working abroad or recently released from prison. It also funded education for 68,000 students (including 5,500 in STEM fields) and supported the construction of nearly 2 million clean water facilities and tens of thousands of social housings for low-income families.

Efficiency of VBSP’s social policy credit in 2025

These results are especially significant in the context that 2025 recorded many severe storms and floods hit northern and central Vietnam. In response, VBSP reduced interest rates by 2% for customers in 26 affected localities from October to December 2025. This proactive step highlights VBSP’s role in helping the public to recover and stabilize their lives. Beyond interest cuts, the VBSP Trade Union contributed over 11.7 billion VND to disaster recovery, part of a 69 billion VND total spent on social security and community activities nationwide in 2025.

Firm Foundation - Ready for a New Development Path

Deputy General Director Le Thi Duc Hanh launched the 2026 whole-system Emulation Movement with theme “Innovation - Safe Digitalization - Streamlined Efficiency - Strive for the excellent completion of task in 2026”

2026 marks a pivotal year for implementing new Party resolutions and its 2030 Development Strategy, phase 2026 - 2030. General Director Duong Quyet Thang noted that while 2025 was challenging, it showcased VBSP’s whole system’s resilience and comprehensive results. Building on 24 years of growth, VBSP enters 2026 with fresh determination. VBSP will remain proactive and flexible, ensuring safe and sustainable credit growth to promote social justice and public happiness.

To meet 2026 growth targets, the General Director has called for continued advice to government bodies on implementing Directive No. 39-CT/TW, Decision No.1560/QD-TTg, and Official Letter No. 15124/BTC-DTCT from the Ministry of Finance regarding local budget entrustment. VBSP will also coordinate with ministries to execute its 2030 Development Strategy, ensuring all long-term strategic targets are met.

The view of delegates attending the conference at the local venue

On this occasion, the VBSP’s Emulation and Reward Council announced commendation decisions from the Governor of the State Bank of Vietnam and the General Director of VBSP. These awards honored collectives and individuals for their exceptional performance in 2025. Additionally, the Council launched the 2026 emulation campaign, setting ambitious targets to ensure upcoming excellent completion of all assigned mandates for the new year.

Reporter: Thuy Trang

Photographer: Phan Anh

Illustrator: Quynh Hoa