PCFs well satisfy needs for monetary service

The latest information from the State Bank of Vietnam (SBV) - Binh Duong Branch shows that the whole province is now home to 10 People's Credit Funds (PCFs) operating in 5 localities, namely Thu Dau Mot city, Di An city, Thuan An city, Dau Tieng district and Phu Giao district with a total of 20,817 members.

The local PCFs have operated in accordance with the goals and principles of the law, meeting basic operational targets and maintaining a reasonable capital use structure. Most of the local PCFs have guaranteed to cover costs and had savings for development. In 2023 alone, their after-tax profit reached nearly VND 21.5 billion. Their annual operational results have further contributed to the local State budget, well meeting the needs of monetary and credit services, limiting black credit, especially serving members in remote and rural areas.

Reported by Thanh Hong-Translated by Kim Tin