Smooth flow of policy credit

The transaction office of the Quang Nam Bank for Social Policies implemented policy credit activities at An Phu Transaction Point on the morning of July 9. Photo: QUANG VIET

Efficient transactions close to people

The transaction office of the Bank for Social Policies (BSP) in Quang Nam has just launched policy credit activities at the An Phu Transaction Point (Quang Phu Ward, Da Nang City). Ms. Nguyen Thi Hoa (Phu Phong Block, Quang Phu Ward) arrived early to complete the loan procedures and was quickly disbursed VND 95 million by policy credit officers under the job creation loan program.

“I will buy a truck to trade goods to stabilize my income, cover my living expenses and take care of my children's education. The transaction office of the Bank for Social Policies in Quang Nam has announced a preferential credit policy, processing loan procedures quickly, publicly and transparently. I and other households can easily access the low-interest loan program to do business. The distance to the transaction point is close, so it reduces costs and time,” said Ms. Hoa.

Mr. Truong Vu Hung (policy credit officer monitoring the area at An Phu Transaction Point) said that the total outstanding policy credit at An Phu Transaction Point as of July 9 reached nearly 34 billion VND with 466 households still having outstanding loans. The interest collection rate of the entire transaction point reached 100%. The savings balance reached 422 million VND, all 466 households borrowing capital saved.

“We always strictly follow the business process, improve the quality of customer service at the transaction point. At An Phu Transaction Point, policy credit activities are always closely monitored and organized by superiors and socio- political organizations. We accompany and quickly disburse policy credit capital to the people to promote economic development and ensure social security,” said Mr. Hung.

Ms. Nguyen Thi Trang - Deputy Director of the Transaction Office of the Bank for Social Policies in Quang Nam said that the unit closely followed the direction of the Director of the Bank for Social Policies in Da Nang City branch on the smooth implementation of policy credit after implementing the 2-level local government from July 1.

“Up to now, the transaction office has provided 15 preferential credit programs with outstanding loans of VND466 billion to 7,300 customers. To ensure the rights and convenience of people in accessing preferential credit policies, the unit continues to maintain 12 transaction points in 4 new wards after the merger; at the same time, maintaining the operation of 168 savings and loan groups (TK&VV) to directly bring policy credit to people,” said Ms. Trang.

Linking growth with credit quality

According to Mr. Hoang Thanh Lan - Deputy Director of the Vietnam Bank for Social Policies, Da Nang City Branch, effective operations at transaction points in wards and communes in recent times have promoted the growth of outstanding policy credit to meet the plan (8-10%). Up to now, policy credit in the city has reached outstanding debt of VND 14,300 billion.

The steps in the lending process are strictly implemented. After disbursing the loan, within 30 days, the Savings and Credit Team coordinates with policy bank officials, farmers' associations, women's associations, veterans, and youth unions entrusted with the loan to inspect the borrower's household to verify that the loan is used for the right purpose.

Mr. Doan Ngoc Chung, Acting Director of the Social Policy Bank, Da Nang City Branch, said that along with closely following the central credit policy plan targets, the unit has taken advantage of the attention and leadership of Party committees and authorities at all levels, closely coordinated with socio-political organizations, and enhanced the responsibility of the Savings and Credit Group to improve the quality of policy credit.

Along with the central government's capital, the Social Policy Bank, Da Nang City Branch, proposed that the City People's Committee balance and allocate local budgets to entrust to the Social Policy Bank to supplement capital for lending to poor households and policies.

“In the coming time, the Da Nang City Social Policy Bank will continue to inform and propagate policies and guidelines on preferential credit so that people can access loans and use loans effectively. Policy credit officers will coordinate with functional agencies and mass organizations to integrate production and business programs, agricultural, forestry, and fishery extension programs, etc. to help borrowers build appropriate economic models. Focus on digital transformation to pave the way for policy credit activities to develop widely and improve quality. Internal inspection and control, coordination of inspection and supervision of policy credit activities are also necessary to consolidate and increase the effectiveness of policy credit activities,” said Mr. Chung.

Source: https://baodanang.vn/thong-suot-dong-von-tin-dung-chinh-sach-3265447.html