Ha Tinh Bank supports businesses to overcome difficulties

In the context of Ha Tinh business community facing difficulties, credit institutions in the area have proactively increased loan limits, reduced loan interest rates, restructured debts...

Since the beginning of the year, the production and business situation of Vinatex Hong Linh Joint Stock Company (Nam Hong Industrial Park, Hong Linh Town) has continuously encountered difficulties due to the impact of the global economic recession and the war tension between Russia and Ukraine. While the price of imported raw materials and production costs have increased, the product price has decreased sharply since last year and has not shown any upward trend, causing the company to suffer losses.

Vinatex Hong Linh Joint Stock Company received investment capital support from the bank during difficult times.

Mr. Pham Anh Tuan - Chief Accountant of Vinatex Hong Linh Joint Stock Company said: "The company specializes in producing yarn for export to Japan, Egypt, Bangladesh and serving domestic demand. In the first 9 months of 2023, the company produced and consumed 4,800 tons of yarn. Currently, the unit still has a large inventory. To maintain the production line and ensure the regime for more than 300 workers, the company has received support from Vietcombank Ha Tinh to adjust credit limits and provide new loans quite quickly and conveniently."

Vinatex Ha Tinh Joint Stock Company is one of many enterprises that Vietcombank Ha Tinh has "supported" to develop. In practice, lending to enterprises is a strength of Vietcombank Ha Tinh. As of the end of September 2023, the total outstanding debt of the branch reached over VND 13,160 billion, of which outstanding loans to corporate customers reached over VND 8,000 billion, an increase of over VND 2,100 billion compared to the beginning of the year (equivalent to a growth rate of 36%).

Business lending is a strength of Vietcombank Ha Tinh.

According to Mr. Duong Quoc Khanh - Head of Corporate Customer Department, Vietcombank Ha Tinh, the outstanding debt of corporate customers has grown high and much higher than the average of the banking system because Vietcombank Ha Tinh has proactively implemented many synchronous solutions, including the solution of reducing lending interest rates to a low and stable level in the market (current interest rates are only from 5%/year). In addition to preferential interest rates for new loans, Vietcombank also reduces interest rates for old loans, contributing to reducing financial costs for businesses.

In 2023, BIDV Nam Ha Tinh continues to carry out its mission of accompanying businesses in developing production and business. Affected by the economic recession, many businesses face difficulties such as: narrowing market, decreasing orders, large inventories..., the branch has proactively reduced lending interest rates, restructured debt, extended repayment periods and created conditions for customers to disburse new loans as soon as possible. By early September 2023, the branch's outstanding debt reached over VND 4,300 billion, an increase of over 5.5% compared to the end of 2022.

Customers come to make transactions at BIDV Nam Ha Tinh.

Mr. Bui Dai Thang - Director of BIDV Nam Ha Tinh said: Determining Vung Ang Economic Zone as a "magnet" for credit development and Hung Nghiep Formosa Ha Tinh Iron and Steel Company Limited (FHS) as a regular partner, the branch has implemented synchronous and effective credit solutions.

In particular, with the provision of diverse financial products as well as good service quality, BIDV Nam Ha Tinh has been trusted by FHS to use loan products, deposits, domestic and international money transfers... as well as a cooperation agreement for officers and employees at FHS to borrow capital to buy land, houses, cars with preferential interest rates.

Accompanying small and medium enterprises in the area to develop their business, VietinBank Ha Tinh has also continuously reduced lending interest rates so that businesses can promptly access cheap capital sources to serve production and business. Accordingly, from September 2023, small and medium enterprises can borrow preferentially at VietinBank with interest rates from only 6.3%/year. The size of the preferential package is up to VND 15,000 billion. It is known that the preferential interest rate applies to loans with a term of up to 6 months in VND, newly arising from now until December 31, 2023.

This is a policy to share difficulties with small and medium enterprises in the context of many challenges in the common market, thereby supporting enterprises to optimize capital costs and improve operational efficiency. It is known that previously, in July 2023, VietinBank also implemented a preferential loan interest rate reduction for this group of enterprises.

According to the leader of the State Bank of Ha Tinh province, in recent times, the unit has regularly disseminated and directed credit institutions in the area to strictly implement the policies and mechanisms of the State, the industry and the Provincial People's Committee related to banking activities. In particular, proactively implementing policies to remove difficulties for economic sectors, especially the business community.

The provincial State Bank also directed commercial banks to strengthen policy communication to enterprises; approach, learn, survey, and grasp the difficulties of enterprises in production and business activities and in credit relations with banks. From there, timely have practical solutions to support such as: new loans, credit limit adjustment, loan interest rate reduction adjustment, debt restructuring...

In addition, the provincial State Bank also coordinated to organize a conference connecting banks and businesses to listen to and grasp the difficulties and problems of businesses arising in the process of transactions with banks to answer, resolve or recommend competent authorities to handle.

According to the specialized sector, outstanding loans to enterprises in Ha Tinh currently reach over VND 32,661 billion, accounting for about 36.1% of the total outstanding loans of the whole area. In particular, in recent times, many interest rate support policies for enterprises have been implemented by the banking sector, such as: Interest rate support policy of 2%/year through commercial banks according to Decree No. 31/2022/ND-CP of the Government; interest rate support policies of Ha Tinh province; policies to restructure debt repayment terms, exempt and reduce interest, fees and maintain debt groups for customers affected by the COVID-19 epidemic according to Circular 01/2020/TT-NHNN and amended and supplemented Circulars...

Thu Phuong

Source: https://baohatinh.vn/kinh-te/ngan-hang-ha-tinh-ho-tro-doanh-nghiep-vuot-kho/255424.htm