City Social Policy Bank conducts debt reconciliation and classification

Accordingly, the number of customers who need to compare and classify debt is 259 thousand people, the outstanding debt balance as of July 31 is 17,745 billion VND.

The purpose of debt classification reconciliation helps the Vietnam Bank for Social Policies to manage closely, accurately reflect the actual debt status, thereby improving the effectiveness of policy credit and limiting credit risks.

People come to compare debts at the Cultural House of Kieu Moc village, Co Do commune. Photo: Thu Hien

According to the Vietnam Bank for Social Policies, on August 8, the Hanoi People's Committee issued Document No. 4507/UBND-KT on the implementation of debt reconciliation and classification of bank loan customers in 2025.

The Chairman of the City People's Committee requested the wards and communes to establish a Steering Committee for debt comparison and classification headed by the Chairman of the Ward and Commune People's Committee; approve the plan, assign members to coordinate with the Social Policy Bank Transaction Offices to participate in debt comparison and classification teams for each village and residential group according to the area for 100% of customers who are borrowing capital. The time for debt comparison and classification is from August 15, to be completed before November 30.

At the end of the reconciliation period, the Social Policy Bank Branch and the bank's transaction offices coordinate with wards and communes to synthesize the reconciliation results, classify debts, assess the current status of policy credit in the area, report and advise the City People's Committee to continue directing implementation in the following period.

Currently, the Ba Vi Social Policy Bank Transaction Office has conducted reconciliation in Co Do commune. This is one of the first units to conduct reconciliation and debt classification. Accordingly, 6 reconciliation and debt classification teams including bank officials, entrusted socio- political organizations, heads of savings and loan groups, and village chiefs have conducted reconciliation work at 6 cultural houses in Co Do commune.

Deputy Director of the Ba Vi Social Policy Bank Transaction Office Nguyen Duc Linh Nga said that to facilitate the reconciliation work, the office has divided the reconciliation hours and notified the savings and loan groups to notify people to come to the reconciliation on time.

To date, nearly 700 customers borrowing capital from Co Do commune have completed the procedures for debt reconciliation and classification with the Transaction Office. This is not only an opportunity for people to confirm the amount of money they are borrowing from the Social Policy Bank, but also for the Ba Vi Policy Bank Transaction Office to meet directly with borrowers, promote the loan program, listen to people's wishes and feedback, thereby improving the quality of service to the people.

Information on policy credit is made public at all transaction points of the Vietnam Bank for Social Policies. Photo: Thu Hien

Mr. Du Quoc Tuyen, a resident of Kieu Moc village, Co Do commune, shared: “Thanks to the guidance and support of the Commune Women's Union and the Savings and Loan Group, my family has been able to borrow capital from the Ba Vi Social Policy Bank for many years. The loan has helped my family develop livestock farming, business, increase income; build clean water and toilet facilities; and especially create conditions for my student child to borrow capital to study at university"...

Source: https://hanoimoi.vn/ngan-hang-chinh-sach-xa-hoi-thanh-pho-thuc-hien-doi-chieu-phan-loai-no-714638.html