Storm No. 3 has caused thousands of billions of dong in damage to loan customers. Banks have made initial statistics and plans to support customers.
Tens of thousands of loan customers affected
Information from State Bank Quang Ninh Branch said that by the end of September 10, 2024, there were a total of 11,058 customers in the province, with a total outstanding debt of VND 10,654 billion (accounting for 5.6% of the total outstanding debt in the whole province) that were severely affected by the consequences of storm No. 3; some customers in the aquaculture sector were severely affected. Mr. Nguyen Duc Hien - Director of the State Bank of Vietnam, Quang Ninh Branch - shared: Customers affected by specific sectors and fields include: Agriculture, forestry and fishery sector has 6,270 customers with outstanding debt of VND 1,463 billion; industry - construction sector has 533 customers, outstanding debt of VND 5,243 billion; trade and service sector has 4,255 customers, outstanding debt of VND 3,948 billion.
In Hai Phong, according to Ms. Nguyen Thi Dung - Director of the State Bank of Vietnam, Hai Phong branch, statistics from commercial banks in the area on the situation of customers affected after storm No. 3 show that a total of 890 customers with a total outstanding debt of VND 15,686 billion were affected after the storm. Affected customers are concentrated in the following industries: Livestock and aquaculture sector: VND 1,965 billion, equivalent to 12.5% of outstanding debt affected after the storm; production, business and trade sector: VND 10,805 billion, equivalent to 68.9% of outstanding debt affected after the storm (mainly damaged factories, goods, and machinery affecting production and business); port sector, fishing vessels, river and sea transport enterprises: VND 1,816 billion, equivalent to 11.6% of outstanding debt affected after the storm; Hotel and homestay business sector: 1,100 billion VND, equal to 7% of outstanding debt affected after the storm.
As a customer who borrowed money from the bank to raise aquatic products, currently greatly affected by storm No. 3, Ms. Ngo Thi Thuy - Thong Nhat 2 area, Tan An, Quang Yen, Quang Ninh - expressed: My family has 600 fish cages, each cage holds 500 fish weighing about 3kg/fish, but after the storm passed, the fish cages were washed away by the waves. The total investment capital is about 12 billion VND, of which 4 billion VND was borrowed from the bank and 500 million VND has been paid. If we receive capital support and debt restructuring to restore production, we will continue to fix it, build more cages, release baby fish to rebuild.
Synchronize solutions to support customers in borrowing capital
Currently, commercial banks have proactively reviewed and summarized the losses of customers who are borrowing capital to promptly apply support measures and remove difficulties for customers.
VietinBank Deputy General Director, Mr. Le Duy Hai informed that according to preliminary statistics, there are about 195 corporate customers affected by storm No. 3 with outstanding debt of about 18,000 billion VND. In the coming time, the bank will quickly assess the overall damage to customers in the entire system to have appropriate support measures. " For customers who have purchased insurance from the bank, VietinBank will quickly speed up the compensation process to create conditions for people to quickly stabilize their lives " - Mr. Hai affirmed.
According to Mr. Le Trung Thanh - Deputy General Director of BIDV, in response to the adverse impacts caused by storm No. 3 on customers with credit relationships, the bank has continuously updated information from branches in Hai Phong, Quang Ninh and some other localities to assess the level of damage to customers. The bank considers this an urgent task that needs to be prioritized, assessing each customer case to have a plan to restructure debt, extend debt, reduce interest rates...; issue credit packages with reasonable interest rates and reasonable scale to accompany people and businesses to recover after the storm.
Mr. Doan Ngoc Luu - Deputy General Director of Agribank - said that, implementing solutions to support customers and overcome the consequences of storm No. 3, Agribank has directed ABIC Insurance Company to urgently carry out procedures to support and compensate customers, ensuring timely customer support; establish working groups to meet, encourage and share directly with customers affected by storm No. 3; grasp and assess the overall level of damage of loan customers, expected affected debt balance, debt repayment ability, solutions to support customers such as: restructuring outstanding loans, restructuring affected debt balance, reducing interest rates, providing new loans, urgently supporting customers to restore and stabilize business operations... In the coming time, Agribank will continue to proactively follow and strictly implement the instructions of the Government, the State Bank, ministries, branches and local authorities in the work. disaster prevention; Regularly update developments, stabilize business operations, and promptly support customers affected by storm No. 3, especially customers in agricultural and rural areas.
Deputy Governor of the State Bank, Mr. Dao Minh Tu shared: " The State Bank and commercial banks have gone to the field to grasp the damage situation of businesses and customers borrowing from banks. The consequences of storm No. 3 are huge. Many customers and businesses have suffered losses without being able to repay their debts and have almost lost all their assets, with no source to compensate in the immediate future."
The State Bank has sent a document to commercial banks to focus on providing immediate support to businesses, people and borrowers. There needs to be timely policies to immediately overcome the current difficulties in life. “ In addition, there needs to be reasonable and positive policies such as temporarily freezing debts, deferring debts, and reducing interest on debts that have come due, while debts that are about to come due will be handled more positively for customers and borrowers, ” Mr. Dao Minh Tu emphasized.
Regarding the debts of customer enterprises in the fields of rural agriculture, aquaculture and seafood farming in Quang Ninh regions, the Deputy Governor said that there must be reasonable policy mechanisms, first of all, debt deferral, interest rate reduction and especially bold new lending so that enterprises, people and households have new capital to rotate, while old debts will be considered and resolved in accordance with actual conditions as well as in the spirit of drastic direction of the Government and Prime Minister.
Faced with the increasing demand for consumer loans from people to cover expenses and stabilize their lives after the impact of storms and floods, experts finance believes that one of the ways to help people quickly access official consumer credit sources from banks and financial companies is to use domestic credit cards. Currently, NAPAS credit cards are issued by Vietnamese banks and financial companies including Agribank, Vietinbank, Sacombank, ACB, NAB, HDBank, Vietbank, Baovietbank, VCCB, OCB, Viet A Bank and 4 financial companies including Vietcredit, FCCom, Mirae Asset, Mcredit.
With domestic credit cards, people can spend first and pay later for urgent living expenses, the interest-free period is long from 45 - 55 days, effectively supporting customers with sudden financial needs, without having to resort to black credit loans with high interest rates. Simple card opening procedures, low issuance and payment costs.
Regarding solutions to support people to recover their lives after the storm, according to Deputy Governor Dao Minh Tu, to solve difficulties after the storm and flood, it is necessary to implement consumer loans so that people can have funds to buy household appliances and equipment for daily life.
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