Over the past years, despite difficulties of economy, the final months of the year always are the time for businesses to accelerate their production. In the final two months of the year, businesses often eye to reach a 30% growth from the previous months. To win the goal, increase on capital for goods production, reserve purchase and so on is an important issue.
Grasping the demand, in the recent time, Vietinbank’s Binh Duong Industrial Park branch has actively spent a large amount of capital from preferential credit programs to meet business community’s demand. At present, the total outstanding loan at Vietinbank’s Binh Duong Industrial Park branch has increased about 17%. The bank targets to reach a growth of 40% in the year end. This means the bank will offer favorable conditions to disburse about VND400bil from now till the end of this year.
Prior to information on some nations in the EU winning an encouraging growth in the recent time, Vietinbank’s Binh Duong Industrial Park branch leaders believe that the above information will create a positive impetus for businesses’ production.
Vietinbank’s Binh Duong Industrial Park branch director Mai Xuan Long said that once the world economy wins a good growth, it is sure that the growth will impact on domestic economy. This is a good chance for businesses to produce and export better and for banks to increase loan support for potential clients. “We have applied a policy on consumption lending, business production with the preferential rates only at 8.99-10.5%/year. Vietinbank’s VND2,000bil preferential credit program being launched in the year-end hopes to support maximum clients’ demand on loans. As such, Vietinbank has simplified procedures and dossiers to shrink assessment time in a bid to help clients approach the program”, Mai Xuan Long added.
Meanwhile, Vietcombank’s Binh Duong branch’s total outstanding loan was estimated at around VND6,000bil in the past month. Vietcombank Binh Duong targets to win VND6,400bil in the outstanding loan in the year-end.
“For the agriculture, rural and export lending program, we have applied the lowest rate of about 9%/year whilst other short-time lending programs for individual and business clients have a rate frame of 8-10%/year”, Vietcombank Binh Duong vice director Nguyen Thai Quang Minh said.
While many other banks have focused on big businesses, Sacombank Binh Duong has concentrated on small traders and small and medium businesses.
According to a rep of Sacombank Binh Duong, October is the peak time for the year-end production, so clients’ demand on loans increases along. “In the past month, lending activity took place lively with the total outstanding loan in October at more than VND 2,136bil. Besides, Sacombank has launched preferential lending packages for small traders and business households with the rate of 9-10%/year”, a staff of Sacombank said.
According to a report of the provincial department of Trade and Industry, in the first 9 months of this year the local export revenue was estimated at US$9,841.3mil, a 15.6% increase from the same period last year, winning 69% of the set plan. In 2013, Binh Duong targets to win a 19% year-on-year increase in export turnover (2012’s export revenue at US$12,129.6mil). This means business community has spared no efforts to boost up export to win the remaining export revenue in the remaining 2 months of this year.
Banks’ preparation on capital source to meet business community and people’s demand on loans is considered as a solid support to eye together remarkable results before 2013’s ending.
Reported by T.Hong – Translated by A.C
