2006 – New developmental step of TYM Fund (Affection Fund)
The salient feature in the first 6 months is the opening of a new branch in Quang Xuong district, Thanh Hoa province and attracting over 600 additional new clients, attaining an attendant rate of weekly meeting at 95.7% and repayment rate at 99.94%.
Up to June 30th, TYM Fund has opened 17 branches in 7 provinces/cities with 21,947 members, released an amount of more than 44 billion VND as loans for members, having a total loan portfolio of about 47 billion VND.
Savings mobilization is continued to be maintained and enhanced. Within the first 6 months, total savings mobilized stood at nearly 7 billion VND, increasing the total savings balance to 27 billion VND, accounting for 57.6% of the total loan portfolio.
In the last 6 months, TYM Fund will focus on selecting new areas for expansion and make necessary preparations for 2 additional new branches to be opened in 2007. TYM fund also has a plan in 2007,to conduct some improvements in “Mutual Fund” product; cooperate with the Dutch Project to make a need assessment among graduated members on skills training in business management, marketing and business accounting and other related activities in some districts such as Soc Son, Kim Dong, Y Yen, and Phuc Yen.
