Banks providing services to businesses must be "convenient, convenient and safe"

Deputy Governor of the State Bank of Vietnam Pham Tien Dung (second from left) and local leaders co-chaired the Workshop in Region 12 - Photo: Dinh Hai

Lending rates down 0.4%

Representatives of businesses in the Southeast region attending the conference all highly appreciated the efforts of commercial banks in recent times, which have actively supported the production and business activities of enterprises, contributing to creating jobs for workers and contributing to the local economy. However, businesses also hope that the State Bank will continue to maintain stable interest rates and exchange rates and that commercial banks can further reduce lending interest rates.

Ms. Nguyen Linh Phuong - Deputy Director of the Monetary Policy Department (SBV), said that the SBV has instructed credit institutions to stabilize deposit interest rates, continue to reduce operating costs to create more conditions to reduce lending interest rates, and support businesses. Accordingly, as of March 20, the average lending interest rate of credit institutions decreased by 0.4% compared to the end of 2024. In the coming time, the SBV will continue to monitor domestic and foreign market developments to have a direction for interest rate management; at the same time, the SBV also requires credit institutions to reduce costs, innovate transaction models in the direction of increasing the digital content of transactions to reduce operating costs, and further reduce lending interest rates to support businesses. "Credit growth of the whole system has only reached 2% so the room for credit growth this year is still very large" - Ms. Phuong added.

Regarding exchange rate management, a representative of the Monetary Policy Department shared that the State Bank will closely monitor international factors and domestic market developments to manage exchange rates to create stability for the foreign exchange market, contributing to creating a favorable business environment and contributing to stabilizing the macro economy.

Leaders of the Southeast provinces attended the conference to promote credit to contribute to local economic growth - Photo: Dinh Hai

Bank recommends local support

Ms. Phung Thi Binh - Deputy General Director of Agribank said that Region 12 has provinces located in the Southeast region - the key economic region in the South, where for many years, this region has always led the country in foreign direct investment, exports... Many provinces in this region by 2025 are assigned by the Government with double-digit growth targets such as Dong Nai, Binh Duong, Ba Ria - Vung Tau... This is an opportunity for credit institutions to have favorable conditions to increase credit investment.

In 2025, Agribank expects credit in region 12 to increase by 12% - equivalent to an increase of more than VND 19,000 billion, bringing the scale of outstanding loans in the Southeast region of Agribank to increase to VND 178,000 billion.

Since the beginning of 2025, Agribank has launched many preferential loan products with interest rates reduced by 1-2%. In addition, this bank has also proactively participated in many programs under the direction of the Government, such as investing in regional linkage projects, infrastructure, logistics, exports, social housing, housing for low-income people, etc. In particular, the preferential home loan program for young people, Agribank also has a VND 10,000 billion package with a fixed interest rate of 5.5%/year applied in the first three years from April 1, 2025.

Agribank proposed that localities in the Southeast region need to plan to develop an investment project to build at least 1 million social housing apartments in the 2021-2030 period. According to the bank, localities should introduce land funds for social housing investment to businesses, propose investments, and arrange local budgets to encourage incentives to call on economic sectors to participate in developing social housing in the Southeast region.

At the conference, leaders of provinces in the Southeast region committed to many incentive programs to attract investment activities of domestic and foreign investors in localities, while resolving legal "bottlenecks" and local mechanisms, opening up opportunities for credit institutions to increase capital supply to businesses, contributing to local economic development.

Concluding the Conference, Deputy Governor of the State Bank of Vietnam Pham Tien Dung requested the relevant Departments and Bureaus to consider and resolve the recommendations of localities and enterprises. Credit institutions continue to improve processes and procedures to provide convenient, beneficial and safe products to customers. According to the Deputy Governor, convenience is the ease of using the service; benefit is the benefit of the people and enterprises using the service; all must be safe. The Deputy Governor directed that the State Bank of Vietnam Region 12 advise the State Bank, and at the same time advise local Party committees and authorities to carry out local economic development.

Deputy Governor Pham Tien Dung congratulated the Board of Directors of the State Bank of Vietnam, Region 12 Branch.

Mr. Ta Thanh Long holds the position of Director of State Bank of Vietnam Region 12

Deputy Governor of the State Bank of Vietnam Pham Tien Dung presented the Decisions on transfer and appointment of Deputy Directors of the State Bank of Vietnam Branch in Region 12 to the following officials: Mr. Vo Dinh Phong; Mr. Tran Thien Tri; Mr. Pham Quoc Bao; Ms. Lam Thi Hong Ngoc; Mr. Nguyen Dinh Thanh - Deputy Director of the State Bank of Vietnam Branch in Region 12, seconded to Deputy Director of the Special Control Board of SCB. Previously, the State Bank of Vietnam presented the Decision on transfer and appointment of Mr. Ta Thanh Long (Director of the State Bank of Vietnam Branch in Dong Nai Province) to hold the position of Director of the State Bank of Vietnam Branch in Region 12.

Mr. Ta Thanh Long, Director of the State Bank of Vietnam, Region 12, said that although the headquarters is located in Bien Hoa, Dong Nai, since its inception, the Board of Directors of the State Bank of Vietnam, Region 12, has directed the Deputy Directors in charge of each area to closely follow the needs and goals of local economic development. In particular, there must be a regulation for close coordination with local departments and leaders of provinces in the region to develop the local socio-economy.

Source: https://thoibaonganhang.vn/ngan-hang-cung-ung-dich-vu-cho-doanh-nghiep-phai-tien-loi-va-an-toan-162128.html