Agribank creates momentum for business development

Support for businesses

To unblock capital flows, Agribank Tuyen Quang branch has actively invested in credit, helping customers access capital quickly and effectively.

With a loan of 5 billion VND from Agribank Son Duong, Word Win Win Company Limited (Son Duong) has realized its production and business goals. Ms. Nguyen Thi Thu Ha, Director of the Company, said: The company's business line is to produce connecting cables for electronics and refrigeration factories at home and abroad. Although there are many customers, the capital source is limited, so the company only produces on a small scale. Fortunately, in 2023, Agribank Son Duong branch has created all conditions for the company to access long-term capital. With an additional 5 billion VND in long-term loans, the company will expand its production scale without worrying about interest rate pressure. According to Ms. Ha, the company will expand from 3 factories to 5 factories, attracting about 50 more workers, the expected production volume will increase by about 60%, which will certainly meet the highest demand for goods for customers.

Tuyen Yen One Member Co., Ltd., Kim Quan commune (Yen Son) develops breeding of buffaloes and cows.

Also from the loan capital from Agribank, Tuyen Yen One Member Co., Ltd., Lang Han village, Kim Quan commune (Yen Son) has expanded its production scale and operated effectively. Mr. Pham Trung Nghia, the company's director, shared: Previously, due to lack of production capital, the company only operated at a moderate level. In 2022, with more than 4 billion VND borrowed from Agribank, the company invested in machinery and equipment, expanded its purchasing and processing services for planted forest wood, supplying raw wood and wood chips to 2 companies: An Hoa Pulp and Paper Joint Stock Company and Woodsland Tuyen Quang Joint Stock Company. In addition, Tuyen Yen One Member Co., Ltd. also cooperated to invest in developing breeding of buffaloes and cows. Mr. Nghia happily said that the company's revenue doubled compared to before, creating jobs for more than 50 workers, including 15 regular workers.

Not only supporting capital for small and medium enterprises, Agribank Tuyen Quang has gradually expanded its business area into other fields. Currently, Agribank Tuyen Quang cooperates with Agribank Yen Bai to sign a credit contract with a total capital of over 960 billion VND for Song Lo 7 Hydropower Joint Stock Company to borrow capital, in which, Agribank Tuyen Quang meets 60% of the total capital.

Agribank Tuyen Quang staff appraises economic development loan projects in Na Hang district.

Proactive and flexible to meet capital needs

Agribank has proactively and flexibly provided credit capital to serve production and business activities, focusing on three main growth drivers: consumption, export, investment, and prioritizing five key areas including export, agriculture, high technology, small and medium enterprises, and supporting industries. In particular, since the beginning of 2024, Agribank has implemented many solutions to increase access to capital and promote credit growth, including proactively adjusting lending interest rates, implementing credit programs of more than VND 150,000 billion with lending interest rates 1-3% lower than normal interest rates to encourage and support customers to use capital.

Directing capital flows to 3 growth drivers and 5 priority areas, in 2024, Agribank will implement preferential credit programs for corporate customers operating in import and export activities with a scale of 20,000 billion VND, with interest rates reduced by a maximum of 2.4%/year; small and medium-sized enterprise customers with a scale of 20,000 billion VND, with interest rates reduced by a maximum of 1.5%/year; enterprises investing in projects in 6 key industries and green sectors with a scale of 15,000 billion VND, with interest rates from only 6% fixed in the first year; individual customers producing and trading OCOP products with preferential interest rates lower by a maximum of 2.0%/year compared to the normal lending interest rate floor; preferential credit programs serving production and business activities with interest rates from only 3.0%/year and serving living needs with interest rates from only 4.0%/year.

In addition, Agribank is actively and effectively implementing 7 policy credit programs and 2 national target programs on new rural construction and sustainable poverty reduction, providing over 200 convenient banking products and services with many distribution channels to meet the diverse needs of customers.

Source: https://baotuyenquang.com.vn/agribank-tao-luc-cho-doanh-nghiep-phat-trien-195138.html