Proactively source capital to serve production and business development needs

Following the direction of the Government and the banking sector on credit support for economic recovery, from the first days of the new year 2024, the Bank for Agriculture and Rural Development of Vietnam - Nam Thanh Hoa Branch (Agribank Nam Thanh Hoa) has synchronously implemented many preferential credit programs. At the same time, it continues to reduce interest rates, extend, restructure debt repayment terms, helping people and businesses to have conditions to restore production and business.

Proactively source capital to serve production and business development needs Customers come to make transactions at Agribank Nam Thanh Hoa Headquarters, Tan Phong town (Quang Xuong).

Currently, Agribank Nhu Xuan is implementing many preferential credit packages for customers. When customers need to borrow capital through the channel of credit officers in charge of the area, the local officers directly approach customers or invite customers to the bank's headquarters for advice, to learn more about the programs, preferential procedures for quick credit loans within 1 to 2 days to disburse to customers. The family of Mr. Hoang Ngoc Nam in Thanh Xuan village, Hoa Quy commune (Nhu Xuan) is one of the households that effectively uses loans from Agribank Nhu Xuan. It is known that in the process of nearly 20 years of building and developing the economy, Mr. Nam's family has always had the support of Agribank in creating conditions for borrowing capital. Initially, his family only borrowed a few tens of millions of VND for small-scale livestock farming. Thanks to Agribank's annual preferential interest rate loan programs, Mr. Nam's family boldly borrowed more to expand production. Mr. Nam's family's total loan capital is currently over 2 billion VND to build a livestock farm model with a scale of 20,000 chickens/batch, selling 500 to 700 tons of chicken/year. In addition, his family also raises 300 pigs. Mr. Nam's family farm's revenue reaches over 3.5 billion VND/year, creating stable jobs for 5 workers.

Not only providing preferential credit loans to individual customers, Agribank Nam Thanh Hoa also promotes credit to support businesses with capital to maintain and develop production and business. Accordingly, in 2023, on the basis of reducing input mobilization costs, the bank has repeatedly adjusted lending interest rates to support people and businesses... In addition, Agribank Nam Thanh Hoa also implements many loan interest rate support policies such as loans for the forestry and fishery sector, interest rate support program according to Decree No. 31/2022/ND-CP; social housing loan program according to Resolution 33/NQ-CP, loans to support individuals receiving state salaries, loans to support medical staff...

Most recently, implementing the policies and orientations of the Government, the State Bank, and Agribank Vietnam on implementing solutions to support people and businesses to borrow capital to overcome difficulties, stabilize production, business and life, Agribank Nam Thanh Hoa continued to adjust lending interest rates down. Accordingly, lending interest rates have decreased sharply from 1.3 - 4%/year compared to the beginning of 2023. Specifically, from January 1, 2024, the bank continued to adjust the interest rate policy for medium-term and long-term loans serving production and business activities, loans serving living needs with a fixed interest rate of only 7%/year, the applicable period was extended from 12 months to 24 months. In addition, the bank also adjusted the floor interest rate for medium-term and long-term loans for the real estate business sector down by 0.5%/year. With the current lending interest rate, Agribank continues to send a strong message of sharing difficulties, supporting people and businesses to optimize borrowing costs, and promptly supplementing capital to restructure operations, especially for priority sectors. As of mid-February 2024, the total outstanding loans to the economy of Agribank Nam Thanh Hoa reached nearly 17,000 billion VND, with more than 500,000 customers having transactions with the bank.

In addition to continuing to promote preferential credit lending, capital mobilization and customer care have always been given special attention and implemented effectively by Agribank Nam Thanh Hoa. Up to now, Agribank Nam Thanh Hoa has had a capital scale of nearly 15,000 billion VND. As a 100% state-owned commercial bank branch, the unit has always been at the forefront of implementing State and Government policies, constantly affirming its leading role in the agricultural and rural financial market; strictly implementing the direction of the State Bank of Vietnam and Agribank, actively implementing solutions to support the economy to overcome difficulties and strive to do business safely and effectively, contributing to strongly promoting local economic development and pushing back "black credit" in the province.

Agribank Nam Thanh Hoa commits to continue to proactively prepare sufficient capital to serve the needs of production and business development of people and businesses eligible for loans. At the same time, it focuses on improving service quality, innovating lending methods, simplifying lending procedures, and saving lending costs to lower lending interest rates to support customers. In addition, the bank always determines that agriculture, farmers, and rural areas are strategic areas and individual customers and small and medium enterprises are priority customers in unit credit activities.

Article and photos: Minh Ha

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