Reportedly, 94,000 people have had credit transactions with the Bank for Social Policies, Khanh Hoa Branch, so far
 |
| Transaction at Bank for Social Policies, Khanh Hoa Branch. |
Years ago, Ca Tam, Son Thai Commune, Khanh Vinh District, used to suffer from financial problems due to lack of capital. In 2005, her family was offered a VND5million loan which she used to invest in cultivation of corn, wheat and dry rice. Her family’s living standard has much improved. She can afford her two children’s schooling and her house becomes well-equipped with such conveniences, including television and fridge. She can earn tens of million of dongs a year from 1ha of Acacia trees, 1ha of corn, 1ha of dry rice and 1ha of wheat. Like Ca Tam, many other people have escaped from poverty thanks to loans offered by the Bank for Social Policies.
Over the past years, the bank has overcome difficulties due to the lack of staff (only 95 personel) to fulfill assigned tasks. Separated from the Khanh Hoa Bank for Agriculture & Rural Development, the Bank for Social Policies, Khanh Hoa Branch, was founded In 2003 with two credit programs with a total balance of VND140 billion. The bank is carrying out 10 credit programs with a total balance of over VND1,000 billion, an average growth rate of 37%. Especially, the fund for loans offered to poor people increased significantly from VND21.5billion billion to VND81.6 billion in end 2009.
Director Bui Cong Meo said, “Over the past 5 years, the fund has increased by 4.2 times benefiting many poor people, including 22,000 students. The bank has offered satisfactory customer care provided by enthusiastic and responsible staff."
The bank has had 124 transaction locations in Khanh Hoa Province. The bank is really a reliable support for the poor.
N.T
