Many incentives for businesses
Identifying a "symbiotic" relationship with businesses, banks are constantly implementing solutions to support businesses in recovering production and business, in which large banks have sharply reduced profits to support businesses through reducing interest rates and fees.
Agribank Son Duong district signed a credit cooperation contract with enterprises in the district.
Mr. Nguyen Duc Hanh, Director of BIDV Tuyen Quang, said that BIDV Vietnam has reduced costs and profits to implement many low-interest lending programs. Currently, the branch is implementing a short-term credit package for production and business loans for individual customers with a minimum interest rate of only 4.2%/year; a competitive medium and long-term credit package for individual customers from only 6.7%/year; a short-term credit package for small and medium-sized enterprises with an interest rate of only 5.5%/year, and medium and long-term loans from only 6.5%/year.
As for Agribank Tuyen Quang, the branch has many customers who are enterprises, cooperatives, and business households in rural areas. Therefore, to support enterprises, cooperatives, and business households, the bank has implemented solutions to support capital supply through preferential loan packages for customers. At the same time, it continues to reduce interest rates, extend, restructure debt repayment terms, helping people and businesses to restore production and business. Agribank has adjusted lending interest rates many times, and interest rates on new regular loans have decreased by 2-4%/year compared to the beginning of the year.
According to the report of the State Bank of Tuyen Quang province, the banking sector has actively implemented customer support policies such as: reducing lending interest rates by 1 - 2.2% compared to the beginning of the year; Credit program for the forestry and fishery sectors and restructuring debt repayment terms, maintaining the debt group according to Circular No. 02/2023/TT-NHNN, the banking sector has restructured debt repayment terms for 32 customers with a restructured debt balance of 46.8 billion VND...
At the Bank - Enterprise Connection Conference held in August 2024, Director of the State Bank of Tuyen Quang Province Trinh Ngoc Tuan said: The State Bank of the province has directed banks to create favorable conditions for customers to access credit, reduce costs, increase digital transformation, and apply information technology to create room to reduce interest rates for existing loans and new loans. However, due to the impact of fluctuations in the world economy and lower-than-expected domestic economic growth, although the banking industry has made great efforts in implementing policies to support customers and increase credit growth, lending results for businesses, cooperatives, and business households have not met expectations.
Director of Hop Hoa Agricultural and Forestry Processing Service Cooperative (Son Duong) proposed to the banking sector about borrowing capital in the coming time.
Capital efficiency
As a customer who has borrowed capital from BIDV for many years, Mr. Le Quang Hai, Director of Linh Giang Joint Stock Company (Ham Yen) shared: The company operates in the field of construction and installation, so it needs a lot of capital, and also needs guarantees from the bank with a large amount of money. Fortunately, the company is qualified to have BIDV Ham Yen Transaction Office sign a credit contract with a guarantee limit of 10 billion VND. This is a favorable condition for the company to invest in developing and constructing projects and works to ensure progress.
Long Thang Company Limited (Son Duong) has been associated with Agribank for 20 years. Over the years, Agribank has facilitated the company to increase its outstanding debt by assets, such as the company's machinery worth nearly 100 billion. To facilitate access to capital, the company has proposed that the bank accompany and work closely with the company's projects to jointly appraise and disburse in a timely manner.
In the field of agricultural production business, Agribank has actively accompanied cooperatives. Mr. Bui Van Hoang, Director of Hop Hoa Agricultural and Forestry Processing Service Cooperative (Son Duong) said: The cooperative borrowed 2 billion VND from Agribank to invest in medicinal plants, build the Solanum procumbens brand in the market, which has been well-reviewed and widely used by customers. Many agents inside and outside the province have proactively sought out the cooperative to sign contracts and import products for business. The direction of the cooperative since accessing capital has developed well. Currently, the cooperative has a plan to invest in a local production line and is continuing to propose that Agribank accompany it.
The Provincial State Bank proposed the need for coordinated and synchronous implementation of solutions from local authorities, departments, branches, units and enterprises in the province to stimulate investment and consumption, increase credit demand, accelerate capital turnover of the economy, strengthen administrative procedure reform, and promote production and business development.
The State Bank of the province continues to closely coordinate with provincial departments, branches and sectors in removing difficulties for businesses and people in production and business activities. At the same time, it directs the credit institution system to actively implement measures, contributing to helping people and businesses in the area access credit capital. As of August 2024, outstanding credit balance reached VND 32,250 billion, of which outstanding corporate debt reached VND 9,762 billion.
Source: https://baotuyenquang.com.vn/ngan-hang-tro-luc-doanh-nghiep-197705.html
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