Banks bet on consumer credit growth - illustration photo/ Shutterstock The State Bank of Vietnam (SBV) has urged credit institutions (CIs) and consumer finance companies to promote consumer credit packages for the last four months of this year. This aims to make significant strides to offset the adverse impacts of the ongoing health crisis through lower loan interest rates, and fast and simple lending procedures in accordance with the law. … [Read more...] about Banks bet on consumer credit growth
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This information was released at an online conference between the departments of public security of 63 provinces and cities belonging to the Central yesterday. The conference aims to adopt the manufacture, issuance and management of ID card project and six- moth preliminary reviews for implementing the project on the National Database on Population. According to the Ministry of Public Security, the Vietnamese Prime Minister approved the investment policy of manufacture, issuance and management of citizen identity card project on September 3rd which would be a base for police forces to promptly carry out the project along with the National Database on Population Project. The National Database on Population has been pushed up its progress of collecting and updating accurate personal information so far. The police forces have collected over 90 percent of population information collection form (DC01) and have updated nearly seven million forms of information collection … [Read more...] about Ministry of Public Security to collect fingerprints for ID cards
Tran Lan Phuong, VBSP Deputy General Director, said that in 2019, the policy credit benefited nearly 2.2 million poor households and other policy beneficiaries. This was one of many outstanding achievements of the bank last year, contributing to supporting poor and near-poor households and those who have just got out of poverty to raise incomes, reduce poverty sustainably, and promote socio-economic development.credit programmes, the bank has implemented synchronous measures to consolidate and improve credit quality. As of December 31, 2019, overdue and charged-off debts were over 1.43 trillion VND, accounting for 0.69 percent of the total outstanding loans. policy credit and the increasingly efficient use of capital by the poor and other policy beneficiaries. … [Read more...] about Policy credit contributes to repelling black credit in poor rural areas
Binh Thuan central province, few think their children will study in university. Thanks to loans from the Vietnam Bank for Policy Policies, thousands of households have escaped from poverty, with their children not only receiving vocational training but also attending prestigious universities in the fields of pedagogy, banking, and medicine and health care. … [Read more...] about When the Party’s Directive 40 spreads in life!
The loans have also been used in support of start-ups. With 400 million VND from the VBSP, Nguyen Chuong Phi, Director of Quang Minh Phuoc Co., Ltd, in the southern province of Dong Thap built a facility that produces 7-8 tonnes of dried sweet potato and banana each month, and creates jobs for 20 labourers, including more than 10 permanent ones, each with monthly salary of 5 million VND. … [Read more...] about New breakthroughs expected to be made in poverty reduction