The overdue debts were mainly loans for families living below or near the poverty line.
By July 10, overdue debts of the Hai Duong Branch of the Vietnam Bank for Social Policies had exceeded VND2.7 billion, accounting for 0.09% of its outstanding loans and increasing by more than VND700 million over the beginning of 2018.
The overdue debts were mainly loans for families living below or near the poverty line (up 364 million and VND303 million, respectively).
The increase in overdue debts was caused by local transaction offices' inattention to inspecting and supervising the use of capital and some commune associations' failure to well manage capital and complaisance in lending as well as debt recovery.
The amount of overdue debts was insignificant but rose.
To reduce the overdue debts, this July, the branch will provide a free debt collation service through messages for customers with outstanding loans.
The bank has required its transaction offices to closely coordinate with saving and borrowing groups in localities to urge and remind families to pay interests and recover due debts.