Financial training courses target Vietnamese women and aim to improve their financial literacy
BRUSSELS, 19 December 2017 – WSBI member Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) has started a series of financial training courses that target women and aim to improve their financial literacy and financial management skills. The project is the newest addition to LienVietPostBank's financial education efforts.
Since June 2017, LienVietPostBank has already successfully organised five training sessions under the theme “Vi Viet – An innovative payment solution for Vietnamese women". The project aims to give low-cost access to savings and overdraft loans or micro-loans to women and women-owned businesses. The project is sponsored by the United Nations Capital Development Fund (UNCDF) and is co-organised together with Vietnam Women's Union.
Since its roll out, the programme has already attracted more than 150 participants from different cities and provinces of Vietnam. During interactive course sessions, participants improve their skills on family expenditure management and are introduced to formal banking products and services, such as savings, consumer loans, small loans and mobile banking possibilities.
LienVietPostBank representatives point out that after completing the course, project participants feel more confident in everyday expenses management, and they gain more knowledge on how to save or spend money more efficiently. Many women also share this knowledge with their friends, colleagues and family members.
According to data from the United Nations, as of 2014, only 32% of women in Vietnam (over 15 years old) have bank accounts. Even though Vietnamese women traditionally take charge of household financial management, many of them are still financially excluded.
LienVietPostBank's initiative not only contributes to financial inclusion and financial literacy among women in Vietnam but also aims to reach women in different regions of the country, including remote and rural areas.
Established on 28 March 2008 as the first and only post-bank in Vietnam, LienVietPostBank has gradually affirmed its position in the domestic financial market. By 30 September 2017, LienVietPostBank had a total of 205 branches and transaction offices across 63 cities/provinces, more than 1,000 Postal Transaction Offices (PTOs) and over 10,000 nationwide post offices to be upgraded to PTOs. LienVietPostBank also focuses on cooperation enhancement with a variety of international organizations, especially WSBI. Having been a member since 2011, LienVietPostBank is always willing to share its best practices with others and proactively participates in all group works.