Requesting the police to investigate the person spreading false rumors 'Director of Credit Fund is bankrupt'

(Baonghean.vn) - As soon as information appeared that the Director of Thai Hoa People's Credit Fund went bankrupt and fled, the State Bank of Vietnam, Nghe An branch, quickly stepped in to investigate and clarify.

» Rumors of the Director of Thai Hoa People's Credit Fund fleeing

Inspection results from May 30 to June 12, 2017 showed that the fund's operations were safe, in compliance with the State Bank's regulations and the law.

The State Bank commits to instruct the Cooperative Bank to provide timely compensation loans when the Credit Fund needs capital, and the Vietnam Deposit Insurance will insure depositors at the People's Credit Fund with deposit insurance like those at other commercial banks.

State Bank of Vietnam, Nghe An branch, informed about the incident at Thai Hoa Town People's Credit Fund. Photo: Tran Chau

State Bank of Vietnam Nghe An Branch requested Thai Hoa town police to investigate and verify.

Mr. Pham An Trung, Chairman of the Board of Directors of Thai Hoa People's Credit Fund, added: Last week, the amount of money customers withdrew from Thai Hoa Town Credit Fund was more than 12 billion VND, while normally in previous weeks, they only withdrew more than 1 billion VND.

According to the Fund's report, as of June 30, 2017, the total capital of the Fund reached 259 billion 476 million VND. An increase of 5 billion VND compared to the first quarter. The plan for the second quarter reached 102%, a growth of 3.28%.

Of which, equity capital reached 22 billion 863 million VND. Total charter capital of the fund is 16 billion 458 million VND, accounting for 6.34%.

Mobilized capital reached 201 billion 770 million VND, accounting for 77.76% of total capital. The total number of members of the fund is 2,315, an increase of 63 members compared to the beginning of the year.

Outstanding loans are 200 billion 318 million VND, accounting for 77.20% of total capital. Of which, overdue debt is 2 billion 680 million VND, accounting for 1.33% of total outstanding loans.

As of June 30, 2017, the fund's after-tax profit reached VND 1,797 billion.

People come to transact at the Town People's Credit Fund on the morning of July 3. Photo: PV

The State Bank also requested the police to intervene and investigate false information that affects the Fund's operations.

PV Group