The Bank focuses on three main growth drivers: consumption, export, investment; prioritizing five key areas including: export, agriculture, high technology, small and medium enterprises, and supporting industry.

picture 1.jpg
Agribank accompanies to remove difficulties, promote capital supply in the first 6 months of 2024

Specifically, Agribank has supported direct lending interest rate reduction for over 1 million existing loans, with an estimated total support amount of VND 700 billion. To facilitate the reduction of lending interest rates, Agribank has adjusted deposit interest rates down three times, thereby adjusting the lending interest rate floor three times. Accordingly, short-term lending interest rates have decreased by 0.5 - 1% compared to the beginning of the year, and medium and long-term lending interest rates have decreased by 1 - 1.5% compared to the beginning of 2024.

On June 18, 2024, the State Bank issued Circular 06/2024/TT-NHNN extending the implementation period of the debt repayment restructuring policy and maintaining the debt group to support customers facing difficulties until December 31, 2024. The entire Agribank system seriously implemented the debt repayment restructuring and maintained the debt group for customers in accordance with regulations to provide maximum support to customers to overcome difficulties and have conditions to restore production and business.

In the context of the economy's limited capital absorption capacity, Agribank has coordinated with ministries, departments and branches to promote accompanying solutions to remove difficulties and support customers. Not only diversifying products, reducing interest rates, waiving service fees to reduce operating costs and improve competitiveness for businesses; Agribank also plays a role in supporting customers in digital transformation, providing capital to improve and upgrade techniques and technologies in farming and production, thereby improving capital efficiency. The bank said it always strives to create favorable conditions for people to develop their livelihoods, stabilize their lives and businesses to expand production...

picture 2.png
Agribank accompanies customers in providing capital to improve and upgrade techniques and technology in farming and production.

Currently, Agribank is spending about 250,000 billion VND to implement preferential interest rate credit programs for many customer groups: large enterprises, small and medium enterprises, medium and long-term investment projects, import and export customers, customers investing in production and business of OCOP products and individual customers borrowing capital for business and consumption activities... Of which, about 110,000 billion VND is for individual customers, with short-term preferential interest rates of only 3.5 - 4%/year for consumption and production and business; about 140,000 billion VND is for capital injection for enterprises and organizations in various industries and fields of operation with preferential interest rates lower than 1.5 - 2.4%/year.

As of June 30, 2024 - after 11 months of implementing the preferential credit program for the forestry and fishery sector, Agribank has provided credit of VND 7,183 billion with about 5,000 disbursements to customers, focusing on activities: aquaculture exploitation; purchasing and consuming aquatic products; processing and preserving forest products...

In addition, the bank has implemented preferential credit for project investors and buyers of social housing, worker housing, and projects to renovate and rebuild old apartments according to Resolution 33/NQ-CP of the Government. By the end of the second quarter of 2024, Agribank had approved 11 social housing projects with a total approved amount of VND 3,023 billion, outstanding loans as of June 30, 2024 were VND 657 billion, continuing to be the leading bank in terms of disbursement revenue of the program. In addition, Agribank is approaching 13 social housing projects with a total investment of VND 5,000 billion.

As a pioneer bank in implementing the policies of the Party and Government, Agribank is committed to providing credit capital and preferential interest rates to support people and businesses, accompanying customers to remove obstacles, unblock capital flows to create momentum for the economy in the last 6 months of 2024.

Ngoc Minh