Vietnam Bank of Social Policies provides loans for 72,000 customers (20:38 10/07/2020)

HNP - Vice Chairman of Hanoi People’s Committee Ngo Van Quy chaired a meeting on July 9, evaluating the performance of Vietnam Bank of Social Policies - Hanoi in the first six months of 2020.   

At the meeting, Director of the Bank Le Thi Duc Hanh said as of June 30, total operational capital of the bank stood at VND9.72 trillion (US$418.37 million), up VND1.76 trillion (US$75.75 million) compared to the same period of last year. 
During the first six months, the bank has provided loans for 72,000 customers worth VND2.94 trillion (US$126.52 million), equivalent to 140% of the figure recorded in the same period last year; and revenue from debt payment at VND1.66 trillion (US$71.43 million), or 114% of the same period last year. 
As of June 30, total outstanding loans stood at VND9.68 trillion (US$416.55 million) for 246,000 customers, up VND1.77 trillion (US$76.16 million) compared to the same period last year. 
Hanh added nearly 72,000 poor and near-poor households, as well as social beneficiaries, have borrowed loans from the bank, in turn contributing to Hanoi’s socio-economic development and reducing poverty rate. 
This has also helped prevent the rise of black credit and addressed social issues. 
Notably, the bank has provided financial support in a timely manner for poor and near-poor households affected by the Covid-19 pandemic. With the funds allocated from Hanoi People’s Committee, the bank has disbursed VND650 billion (US$27.97 million) for 14,098 customers being poor and near-poor households, or social beneficiaries, helping them to resume business activities. 
Besides, the bank has adopted measures to improve the quality of credit. So far, overdue loans as of June 30 reached VND4.71 billion (US$202,677), down VND390 million (16,782) compared to the same period last year and equivalent to 0.046% of total outstanding loans. 
Vice Chairman of Hanoi People’s Committee Ngo Van Quy highly regarded the performance of the bank, especially during the Covid-19 pandemic. 
Quy requested the bank to continue improving efficiency in its operation during the final months of the year, focusing on credit quality. 

By Ngoc Lam

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