Aung Thu| Branch Manager| Pyawbwe Branch
How do you feel about being the branch with the greatest reduction in PAR for November?
As the Pyawbwe branch, we are very proud and grateful to have been recognized as the branch with the greatest reduction in PAR for November. This success is the result of the hard work and collaboration of all the staff members, and I truly appreciate their efforts. We are very pleased with the outcome.
As the branch manager, how did you work to reduce PAR? What did the relevant staff members do to achieve such a significant reduction in PAR?
The Pyawbwe branch faced significant challenges, so as BM and ABM, we analyzed the current PAR situation by loan product, day in arrears, and other criteria. Afterward, we held meetings with the relevant staff members to discuss strategies for coordinating collections from clients with overdue loans. We also conducted interventions with clients who could still make payments. Additionally, for clients who were unable to repay, we used the funds collected from regular payees to settle overdue amounts. These coordinated efforts allowed us to reduce PAR successfully. What do you think are the key factors for reducing PAR and what actions should be taken? In my view, the key factor for reducing PAR is to prevent it from occurring in the first place, much like preventing a fire before it starts.
The first priority should be ensuring on-time collections by addressing potential issues early. For FO/IFO staff, it's crucial to fully understand the financial situation of each client, build strong relationships, and maintain consistent contact with clients to discuss repayment. Staff should be able to assess how to approach each client’s situation effectively and ensure clients understand the company’s procedures. For staff members, it’s important to clearly explain to clients how to avoid overdue amounts and offer solutions when payments are missed. For branch managers, it’s necessary to conduct regular reviews of outstanding loans (daily, weekly, monthly), follow up with clients via phone or in person, and hold short meetings with staff to review interest rates and action plans. These steps are essential for reducing PAR effectively.
Pyawbwe Branch Team Members
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