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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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!
Therefore, materialising Directive No. 40 plays a significant role in the implementation of social policy credits. The document mobilises human resources and capital of not only localities but also the business community, social organisations and individuals in sustainable poverty reduction, so that no one is left behind. It also targets economic growth and social equality and progress. … [Read more...] about New breakthroughs expected to be made in poverty reduction
In addition to positive business activities, HDBank has pioneered the application of the best international standards of governance as well, including Basel II. In the past year, the bank was approved by the Governor of the State Bank of Vietnam to apply Basel II standards ahead of time and the CAR has always been much higher than the prescribed minimum. … [Read more...] about HDBank reports profit at $218.1 million