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Under evaluation of Binh Duong Branch of State Bank of Vietnam, in 2020, the operation criteria of 10 people’s credit funds have been great. Local credit funds have made earnings larger than expenditures while credit quality has been improved in the face of lower than 1% of bad debts year on year. Total bad debts balance of the 10 credit funds by the end of 2020 was over VND 1.8 billion, which was VND 90 million higher than the beginning of the year. The ratio of bad debts of the 10 credit funds was only 0.15% of total debts, which was less than the tolerable rate of 3%. The provisional fund is in place to sustain risks of bad debts of up to VND 10 billion.

Reported by Thanh Hong – Translated by Vi Bao