According to Mr. Pham Thanh Ha, Deputy Governor of the State Bank, as of March 12, credit had grown by 1.24% - Photo: SBV
On the afternoon of March 21, in Hai Phong, the State Bank held a conference to promote bank credit to contribute to economic growth in the regions of Hai Phong, Hai Duong, Hung Yen, Quang Ninh and Thai Binh and launched the State Bank Region 6.
At the conference, businesses proposed that banks continue to reduce lending rates in both VND and USD. Currently, lending rates have decreased compared to before but are still high.
Regarding capital costs for businesses, Mr. Le Van Hung, Chairman of the Hai Duong Business Association, said that once he was invited to borrow from 10 banks with very attractive interest rates. However, when service fees were added, the actual cost was higher.
"Businesses like us only choose what is truly beneficial, not just looking at the listed interest rate," Mr. Hung said frankly, and proposed that there should be regulations to control and publicize service fees that come with loans, so that businesses have a basis to compare and evaluate total costs transparently.
Along with reducing interest rates, businesses also recommended that banks consider extending debt repayments for some struggling businesses to give them a chance to recover.
Responding to the proposal to reduce interest rates by businesses, Ms. Nguyen Linh Phuong, Deputy Director of the Monetary Policy Department (State Bank), said that lending interest rates are agreed upon by banks and customers after considering the customer's credit history, loan options, etc.
From the management agency's perspective, from 2024, the State Bank will continue to maintain the operating interest rate, creating conditions for businesses to access capital at reasonable interest rates.
On the other hand, recently, the State Bank has also directly worked with commercial banks to stabilize deposit interest rates and reduce lending interest rates.
"Up to now, the lending interest rate level continues to decrease. As of March 10, the average lending interest rate for new loans was 6.5%/year, down 0.4% compared to the end of 2024.
To contribute to supporting the economy and promoting production and business activities, the State Bank continues to require banks to reduce operating costs to reduce lending interest rates," Ms. Phuong informed.
Speaking at the conference, Mr. Pham Thanh Ha, Deputy Governor of the State Bank, said that credit growth at the beginning of this year showed signs of improvement compared to the same period in 2024. Accordingly, as of March 12, credit in the entire system had grown by 1.24%, higher than the same period last year.
However, the world economy is still experiencing complex developments, negatively impacting the domestic economy. Therefore, from the beginning of the year, the State Bank has had solutions to increase credit growth to ensure the economic growth target of 8% or more this year as approved by the National Assembly.
Concluding the conference, Mr. Pham Thanh Ha pledged that the banking sector would continue to promptly meet the capital needs of the economy. To support and accompany businesses and contribute to economic growth, he asked credit institutions to reduce profits to reduce lending interest rates.
On the same day, the State Bank held a conference to announce the launch of State Bank Region 13 and a conference to deploy solutions to promote bank credit to contribute to economic growth, in Tien Giang.
Speaking at the conference, State Bank Governor Nguyen Thi Hong directed banks to promote credit growth from the beginning of the year, directing credit to production and business sectors, priority sectors, and growth drivers.
At the same time, banks strictly control credit for potentially risky areas. Promote credit investment in feasible key projects and works to serve the socio-economic development of the region and the local strengths of industries and sectors, focusing on promptly meeting the loan needs of people, enterprises producing, processing, purchasing, storing, and consuming rice...
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