The Bank for Social Policies’ total capital at the end of the first quarter rose 6.7 per cent against December 2016 to VND173.34 trillion (US$7.6 billion), its latest report shows.

Of this, VND27.75 trillion was from the State budget; VND20.98 trillion was from planned loans; and VND54.2 trillion came from deposits of State-owned credit institutions.

During Q1, the bank’s outstanding loans reached VND163.42 trillion, VND6 trillion higher against late last year and around 51 per cent of the 2017 plan. Of the loans, bad debts made up 0.76 per cent, or VND1.25 trillion.

The bank’s management council has issued a resolution on lending for the social housing programme in 2017 and submitted it to the Government, suggesting that it grant capital to implement the programme. — VNS