The fourth quarter is an important period, affecting the business results of both banks and businesses. Currently, commercial banks are actively reducing loan interest rates, increasing disbursement of credit capital to get businesses to meet the annual plan.
Customers making transactions at HDBank - Binh Duong Branch. Photo: Thanh Hong
Sharing difficulties with businesses
The capital demand of enterprises in the last months of the year increased sharply, but not all businesses were abundant in finance, especially small businesses. Therefore, having the support of the bank will help businesses have favorable conditions in production and business at the end of the year.
Ms. Nguyen Thi Thanh Dao, owner of Lam Thanh Wood Company (Thuan An town), said that because the debt is usually focused at the end of the new year, the company used to borrow money at the end of the year. As a small company, it is difficult to borrow bank loans with preferential interest rates, so she has to accept loans with high interest rates. Not to mention, payment for orders is concentrated at the end of the year, so the company also takes a small fee.
Sharing difficulties of business customers, in the last months of the year, some banks have come up with financial solutions suitable with many incentives to support customers. Besides, since the beginning of August, lending interest rates at some banks have been adjusted down by 0.5% / year compared to the previous period. Specifically, from August 1 to December 31, 2019, Vietnam Investment and Development Joint Stock Commercial Bank (BIDV) reduced the lending interest rate ceiling to 5.5% / year for 3 groups of customers. Priority goods in accordance with the regulations of the State Bank (the State Bank) in the fields of export goods, supporting industries and high-tech enterprises. This interest rate is reduced by 0.5% / year compared to July and 1% / year lower than the ceiling prescribed by the State Bank.
Similarly, Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) reduces the floor interest rate for short-term VND loans by 0.5 percent per year for capital needs of good customers for agriculture and manufacturing. large scale goods, linked to chains; developing supporting industries and serving production and business of hi-tech enterprises. Meanwhile, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) also announced the application of short-term lending interest rates in VND at a maximum of 5.5% / year, down 1% / year compared to the State Bank regulations, applicable to all existing loans and new loans for 5 priority areas, technology-applied agriculture and startups from 1-8 to 12/31-2019.
Not only help businesses and business households easily access capital in the peak season at the end of the year, some banks also offer many financial solutions to help customers reduce the burden of fees. For example, customers who want to transfer foreign currencies abroad to import materials in the year-end business season will be 100% free of transactions; free internal and interbank online money transfer; free annual internet banking first year. In addition, customers do not need to waste time going to the counter and can transfer money online anytime, anywhere.
The owner of a wooden enterprise, Le Hien Phat (Dong An Industrial Park), shared that thanks to the policy of small interest and fee reduction, the bank has supported the enterprise to have more revenue to the profit fund, thereby increasing conditions and additional income for workers at the end of the year.
Promote capital supply
While businesses are thirsty for capital, banks are also anxious to find the output for their mobilized cash flow. In many ways, banks are trying to bring capital to businesses. On the other hand, banks also reduced operating costs, reduce spending.
Representative of Ho Chi Minh City Housing Development Commercial Joint Stock Bank (HDBank) - Binh Duong Branch, said that with good customers, the bank is always ready to welcome, because the bank that wants to raise capital wants it so much. borrowed out. Along with strong financial potential and abundant mobilized capital, the bank regularly implements credit incentive programs to meet all capital needs with all customers, especially medium and medium-sized enterprises. small.
Also according to this representative, lending rates will not immediately increase according to deposits (from before), because the actual adjustment of deposit interest rates is not large recently. If you want to push credit, there are many ways, but with the current prudent business and sustainable development view, no bank ignores technology investment, risk management, finance and improvement. service quality.
Right from the regular Government meeting in February 2019 and throughout the Government meetings in the following months, the Government has instructed the State Bank to continue operating interest rates flexibly, focusing on credit in various fields. priority areas to promote production, business and limit black credit.
Mr. Vo Dinh Phong, Director of the State Bank - Binh Duong Branch, affirmed that this policy has been conveyed to credit institutions considering the current economic context to reduce interest rates and accompany businesses. . Currently, interest rate policies of banks also create conditions for businesses to access production capital, especially companies operating in priority areas such as agricultural and rural development under the Government's regulations. on credit policy for agricultural and rural development; small and medium-sized enterprises under the Government's regulations on assistance for small and medium-sized enterprise development; development of supporting industries according to the Government's regulations on supporting industry development ... In general, this policy has been quickly studied by research banks to meet credit capital. Many banks also simultaneously reduced operating costs, reduced spending, though it could affect profits.
Reported by Thanh Hong – Translated by Vi Bao
