According to statistics from the State Bank of Vietnam (SBV), the outstanding debt of credit institutions affected by storms, floods, and landslides is about VND100,000 billion. Currently, more and more commercial banks (CBs) have proactively implemented solutions to remove difficulties for affected customers through the implementation of new credit support packages, interest rate reductions, and interest exemptions for both existing and new outstanding debts... within their financial capacity.
Among them, there are commercial banks that reduce 50% of interest for customers, even support 100% of interest payable in the last 4 months of the year.
Ms. Ngo Thu Ha, General Director of SHB, said that businesses and people were heavily affected by the storm, leading to difficulties in repaying debts and not meeting new loan conditions... In order to support customers, SHB will reduce an average of 50% of interest rates payable from September to December 2024 for corporate and individual customers affected by storms and floods.
At the same time, the bank provides a credit package to support customers in rebuilding and recovering production and business after the storm with an interest rate of only 4.5%/year. Along with emergency support during and after the storm, SHB will also continue to finance the reconstruction of collapsed houses, resettlement areas for people, and reconstruction of civil infrastructure in damaged areas, helping people stabilize their lives after natural disasters.
According to Ms. Ngo Thu Ha, "especially for customers who have suffered heavy losses and have difficulty in restoring production depending on the level, SHB can support 100% of the interest payable in the last 4 months of the year. We will proactively review and notify customers of the reduction, not waiting for customers to register on the level of damage with the bank."
"Up to now, SHB has 251 affected customers in some provinces of Quang Ninh, Thai Nguyen, Tuyen Quang... The support interest rate we estimate from now until the end of December 2024 is about 40 billion VND, not including the support of the 4.5%/year loan package. We will continue to review to have further support for customers," said Ms. Ngo Thu Ha.
Similarly, Sacombank also said that from now until the end of 2024, this bank will reduce up to 2%/year of lending interest rates on existing or new outstanding loans to support individual customers and businesses affected by storms and floods to overcome difficulties, stabilize their lives, and restore production and business activities.
“The bank has quickly deployed information to branches and transaction offices in the Northern, Central and Central Highlands regions to proactively review, assess, report the extent of damage and propose measures to support and remove difficulties for customers who are borrowing capital,” said a Sacombank representative.
MSB has also just announced that from now until December 31, 2024, this bank will implement an interest rate support program for corporate customers with a credit package of VND 1,000 billion, reducing 1% of VND loan interest rates and 0.5% of USD loan interest rates for existing and newly arising loans for corporate customers affected by storms to join hands to overcome difficulties and rebuild production and business activities. Previously, MSB also promptly reduced 1% of loan interest rates for small enterprises and business households affected by storms and floods.
Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Ho Chi Minh City Branch, said that the banking industry has always been one of the pioneers in handling and responding to policies promptly and accurately to support businesses and people facing difficulties when natural disasters and epidemics occur. To join hands to help people and businesses overcome the effects of storm No. 3, the banking industry has been implementing many solutions to remove difficulties as well as support businesses and people to maintain, recover, stabilize and develop production and business.
The banking sector has promptly compiled statistics on customers and credit balances affected by storms and floods, classified and evaluated them, and taken measures to handle them. This is a timely direction from the State Bank and a proactive and flexible approach from lending institutions. Because assessing customer damage is very important, it is the basis for appropriate handling measures.
Currently, the banking industry is implementing a policy of debt restructuring, maintaining debt groups; reducing interest rates and continuing to lend new loans at low interest rates... which has directly supported and resolved difficulties for businesses, thereby contributing significantly to the recovery of production and business, economic growth, whenever the economy is affected by objective factors: crisis, natural disasters and epidemics.
“In particular, proactively reducing interest rates, adjusting interest rates in conjunction with preferential credit packages and disbursing credit packages of credit institutions to share and support customers, is also a solution and a driving force to help customers and people overcome difficulties, recover and grow,” said Mr. Nguyen Duc Lenh.
Nhung Nguyen
Source: https://www.sggp.org.vn/tiep-tuc-ho-tro-nguoi-dan-vung-bao-co-ngan-hang-giam-50-lai-phai-tra-cho-khach-hang-post759997.html
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