Income and Expenses of the Vietnam Bank for Social Policies

Quick answer: The income and expenses of the Vietnam Bank for Social Policies are prescribed in Circular 62/2016/TT-BTC of the Ministry of Finance (consolidated in consolidated document No. 59/VBHN-BTC of 2020, still in force).

What Comprises the Income of the Vietnam Bank for Social Policies?

Under Circular 62/2016/TT-BTC guiding the income, expenses and fund provisioning of the Vietnam Bank for Social Policies, the Bank’s income comprises: income from credit activities (lending to the poor and other policy beneficiaries); income from service activities; and other income as prescribed.

Management Costs of the Vietnam Bank for Social Policies

Management costs are determined on the basis of norms and standards prescribed by competent authorities, including management personnel costs, administrative costs and other management costs serving the operations of the Vietnam Bank for Social Policies. The Bank applies centralized accounting across the whole system, preserving and developing capital and covering operating costs and risks.

How Are Risk Provisioning Costs Set Aside?

The Vietnam Bank for Social Policies sets aside risk provisioning costs at the rates and by the methods prescribed by the Ministry of Finance in Circular 62/2016/TT-BTC, to cover losses from credit risks in policy lending activities.

Applicable Legal Basis

• Circular 62/2016/TT-BTC guiding the income, expenses and fund provisioning of the Vietnam Bank for Social Policies (consolidated in 59/VBHN-BTC of 2020, still in force).

Notes on Applying Current Legal Regulations

This article falls under General Knowledge and is presented for reference, helping readers understand the legal issue at an overview level before preparing dossiers or carrying out transactions.

Legal regulations may change over time and vary by locality, dossier type and specific circumstances. To determine the exact legal basis applicable to your case, please contact an ANT Legal lawyer at 0966.475.966 for verification and advice before proceeding.

Common Risks to Note

• Applying a legal document that has been amended, supplemented or replaced.
• Preparing incomplete dossiers, documents or evidence.
• Misunderstanding the conditions, procedures, time limits or competent authority.
• Signing, filing dossiers or transacting without fully assessing legal risks.

How Can ANT Legal Help?

ANT Legal assists in reviewing specific situations, checking dossiers, determining the applicable legal basis, advising on handling options, and representing clients before individuals, organizations or competent authorities when needed.

For prompt consultation, please contact our lawyers at 0966.475.966.

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