DONG HOA - PHU HOA: Preliminary review of policy credit activities in the first quarter of 2025

On the afternoon of April 17, the Board of Directors of the Vietnam Bank for Social Policies (VBSP) in Dong Hoa Town held a meeting to review social policy credit activities in the first quarter and deploy tasks for the second quarter of 2025.

In the first quarter of 2025, the Dong Hoa Town Social Policy Bank Transaction Office disbursed more than VND 40.47 billion to 597 borrowers, with debt collection revenue reaching nearly VND 28.2 billion. Outstanding debt as of March 31, 2025 was more than VND 514.2 billion, an increase of nearly VND 12.3 billion compared to the beginning of the year, with a growth rate of 2.45%; with more than 11,000 households still having outstanding debt. The quality of policy credit in the area continues to be maintained, with the overdue debt rate accounting for 0.2%. The whole town has 263 savings and loan groups, of which 237 are classified as good (accounting for more than 90%).

In the second quarter of 2025, the Town Social Policy Bank Transaction Office will focus on reviewing and disbursing 100% of the assigned credit plan, especially focusing on social housing loan programs and those who have completed their prison sentences. At the same time, it will promote the collection of overdue debts, improve the quality of savings and loan groups, increase the savings rate in the group to 95%, and actively mobilize capital locally. Along with that, the unit will continue to coordinate with the authorities and mass organizations of communes and wards to strengthen the dissemination of credit policy programs, ensuring increasingly effective and sustainable credit activities, contributing to poverty reduction and ensuring social security in the area.

On this occasion, the People's Committee of Dong Hoa Town commended 3 collectives and 10 individuals with achievements in managing policy credit capital in the first quarter of 2025.

The Board of Directors of the People's Credit Fund of Phu Hoa district has just summarized the social policy credit activities in the first quarter and deployed tasks in the second quarter of 2025.

In the first 3 months of 2025, the district's total loan turnover reached 32.8 billion VND with 1,010 households receiving loans. By the end of the first quarter, the total outstanding policy credit balance in the district was 572.1 billion VND, with 11,689 households still borrowing, reaching 98.8% of the yearly plan, an increase of 11.8 billion VND compared to the beginning of the year, a growth rate of 2.11%; overdue debt 0.18%.

In the second quarter of 2025, the Board of Directors of the Phu Hoa District Social Policy Bank proposed that the District Social Policy Bank Transaction Office continue to improve credit quality, proactively handle debts in a timely manner to limit overdue debts. Mobilize capital sources to disburse quickly and effectively, meet the production and business needs of poor households and other policy beneficiaries, contributing to the implementation of national target programs on sustainable poverty reduction and local socio-economic development.

On this occasion, the People's Committee of Phu Hoa district awarded 8 collectives and 30 individuals with outstanding achievements in loan capital management in the first quarter of 2025.

Phu Yen Online