Focus on recovering overdue policy credit debts

According to the Transaction Office of the Social Policy Bank (SPB) in Ham Tan district, as of March 31, 2024, the total outstanding balance of loan programs reached VND 434,119 million/9,250 borrowing households, an increase of VND 11,823 million, a growth rate of 2.8% compared to the beginning of the year; loan turnover reached VND 32,233 million/816 loans.

The Board of Directors of the District Social Policy Bank has focused on implementing many solutions to effectively implement social policy credit programs. The total capital as of March 31, 2024 reached VND 437,969 million, an increase of VND 15,457 million, an increase of 3.66% compared to the beginning of the year. Of which: The capital entrusted from the district budget is VND 10,153 million, accounting for 2.32% of the total capital structure, an increase of VND 2,544 million, an increase of 33.43% compared to the beginning of the year. However, besides the achieved results, there are still some difficulties and problems such as overdue debt increased by VND 220 million compared to the beginning of the year, and the balance of savings deposits mobilized from organizations and individuals decreased compared to the beginning of the year.

In 2023, in the first 3 months of 2024, Ham Tan district had over 3,800 borrowers with nearly 146 billion VND, the highest loan turnover compared to recent years.

Therefore, to carry out the tasks of the second quarter and the remaining months of 2024, members of the Board of Directors of the District Social Policy Bank focused on solutions to remove difficulties in the collection of bad debts. Further promote the role of policy credit management of the village chief and improve the quality of activities of the District and Commune-level Associations and the Management Board of Savings and Loan Groups... Chairing the recent meeting of the Board of Directors of the Ham Tan District Social Policy Bank, Mr. Nguyen Thanh Nam, Vice Chairman of the District People's Committee, Head of the Board of Directors of the District Social Policy Bank requested relevant departments, socio -political organizations, People's Committees of communes and towns to step up propaganda and mobilize organizations and individuals in the area with idle money to deposit into the District Social Policy Bank to supplement capital for lending to poor households and other policy beneficiaries in the area. The district Social Policy Bank strengthens coordination with the People's Committee and socio-political organizations entrusted at the commune level to organize propaganda and dissemination of policies and guidelines on social policy credit to the people, proactively receiving recovered capital to promptly meet the borrowing needs of poor households and other policy beneficiaries.

The People's Committees of communes and towns proactively grasp information and coordinate in handling risky cases; direct and urge early debt collection for borrowers who leave their place of residence, go to work far away and do not produce or do business in the locality. Closely coordinate with the Vietnam Bank for Social Policies to improve credit quality, evaluate loan applicants publicly and transparently...

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