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Vietnam Bank for Social Policies - the largest bank in terms of access points in Vietnam
(VBSP News) VBSP has been reported by the MIX to be the largest bank in Vietnam in terms of access points by a large margin, controlling 40% (11,566) of all banks access points , more than all other combined. This is an international recognition for VBSP as being a prominent institution in financial inclusion in Vietnam
Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs - payments, savings, credit and insurance – delivered in a responsible and sustainable way. The State Bank of Vietnam has been partnering with the World Bank Group to develop a national financial inclusion strategy. The strategy is said to be a focus on digital finance including shifts in government payments to digital products and platforms; providing financial services to rural and agricultural communities and ethnic minorities; and strengthening consumer protection and financial education so that the next generation of consumers are prepared for a modern financial marketplace.
Although the strategy is still in development, VBSP as a biggest microfinance services provider in Vietnam has been ready to accompany financial inclusion strategy.
http://finclusionlab.org/country/Vietnam/analytics?title=Company-Analysis
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After 15 years of operation, VBSP has expanded its network to all communes, with 63 provincial branches, 629 district transaction offices, nearly 11,000 commune transaction points, making a total of 11,566 point of services (POS). With this number, the MIX - the leading global information provider in support of financial inclusion has concluded that VBSP is the largest bank in Vietnam in terms of access points by a large margin, having more access points than all other institution types combined (i.e banks, finance companies, foreign banks, leasing companies, micro-finance institutions, People’s Credit Fund). However, this number of POS in fact is far more with nearly 200,000 Savings and Credit group (SCGs) as the lengthen arm of VBSP to each living quarter.
Each SCGs has a group leader who hold responsibility of a semi-agent for VBSP, i.e entrusted to collect loan interest, savings for VBSP with commission upon the amount collected. VBSP is considering making the SCG leaders to be more involved in VBSP system such as payment service when VBSP complete its mobile banking project. Once the model is implemented successfully, VBSP can become a door-to- door bank in Vietnam to target customers who mostly have been excluded from the formal financial sector. They are the poor, near poor, policy beneficiaries living mainly in rural and isolated areas.
Besides a huge network - a first step to broader financial inclusion, VBSP also continue struggling to enhance financial education to partners and customers, develop various products and services to meet with customer demands, deploy mobile banking and particularly enhance customer protection by preferential policies over interest rate, risk management and transparency. The bank’s target is to bring formal financial services to vulnerable customers, helping them to build a sustainable out of poverty life so that “no one is left behind”.
- Deputy Prime Minister Ho Duc Phoc chairs a working session with VBSP
- Policy credit helps poor households eliminate temporary and dilapidated houses
- Policy credit contributes to sustainable poverty reduction
- Effectiveness of Loan Capital for Formerly Incarcerated Individuals
- Eliminating temporary and dilapidated houses with policy credit funds
- Policy credit supports ethnic minority youth in starting businesses
- Effectiveness of Policy Credit in Nghia Hanh District
- Women play an important role in growth of Vietnam's banking sector
- Ex-prisoners stabilize their lives thanks to policy credit
- Study Tour of Bankers Institute of Rural Development (BIRD) to the Vietnam Bank for Social Policies (VBSP)
- Experiences and knowledge exchange on housing finance
- Social housing credit package of VND1 trillion to be launched in 2018
- People with disabilities in need of exclusive source of low-cost loans
- Constantly improve financial service quality for the poor
- Asia Foundation Board Members field visit to VBSP at grassroot level
- Boosting green credit for sustainable development in Viet Nam
- Over 124,000 Soc Trang households escape poverty
- Binh Thuan province combats poverty with microfinance
- Nearly 1.5 million ethnic minority households access financial services and products
- Improve livelihoods for ethnic minority in remote, mountainous areas

- Social policies bank asked to diversify capital sources to best serve the poor
- Deputy Prime Minister Ho Duc Phoc chairs a working session with VBSP
- Policy credit helps poor households eliminate temporary and dilapidated houses
- Policy credit contributes to sustainable poverty reduction
- Effectiveness of Loan Capital for Formerly Incarcerated Individuals
- Eliminating temporary and dilapidated houses with policy credit funds
- Policy credit supports ethnic minority youth in starting businesses
- Effectiveness of Policy Credit in Nghia Hanh District
- Women play an important role in growth of Vietnam's banking sector
- Ex-prisoners stabilize their lives thanks to policy credit
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