However, CIs seem to tighten their requirements on collateral and credit ratings of customers to prevent from default risks. Funds allocated for real estate, securities, and consumer loans are among the most exposed to a variety of risks. In the first six months, CIs have met customers’ borrowing demands at a higher level than in the second half of 2019, with 88.7 per cent of CIs satisfying 75-100 per cent of loans requirements. … [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
Implementing Action Programme 33 of the provincial Party Committee’s Standing Board on the implementation of Directive 40 of the Party Central Committee on strengthening the Party leadership over social policy credit, the authorities of districts, towns and cities across the province has paid attention to allocating capital from the Vietnam Bank for Social Policies for poor people and policy beneficiaries.social policy credit has significantly contributed to narrowing the gap between rich and poor, reducing unemployment, fulfilling criteria for building new rural areas, and playing an important role in stabilising and developing the local economy. Especially, outstanding loans for ethnic minority households have so far reached 337 billion VND. … [Read more...] about When the Party’s Directive 40 spreads in life!
During the five-year implementation of Directive No. 40-CT/TW, more than 10 million households have gained access to policy loans, with 2 million households escaping from poverty sustainably. Thanks to the loans, nearly 3.2 million households have accessed clean water and 131,000 built their own houses. Close to 318,000 students can continue with their study. Nearly 1 million people have gained jobs and 21,000 others can work abroad. … [Read more...] about New breakthroughs expected to be made in poverty reduction