As a business dealing in currency, banking units are still in disarray with worries during the epidemic. However, with the role of the backbone of the economy, the task of the current banking industry is not only a business plan, but more importantly, opening the transit capital flow, timely supporting customers, contributing to stabilize and promote socio-economic development.
The banking system proactively issued preferential credit policies in a timely manner, thereby facilitating the removal of difficulties for customers.
Diversified funding policies
At this time, if the health sector is the front line of the Covid-19 front, the banking industry also deserves to be the "rear" of political, socio-economic tasks. The drastic guidelines, policies and directives from the Government, ministries, and localities are being simultaneously and widely implemented by commercial banks in the province to support individual customers and corporate customers. affected by the Covid-19 epidemic.
Most recently, the Bank for Investment and Development of Vietnam (BIDV) announced to continue restructuring the debt, extending the repayment period of principal and interest and reducing by 2% / year for VND loans. With regard to new loans, BIDV provides an interest rate of 2% / year lower than loan rates of the same type ... With the majority of customers being small and medium enterprises (SMEs), Vietnam Prosperity Bank (VPBank) has a program. second companion with a reduction of interest rate of 2% / year including existing customers and new borrowers operating in the field of tourism, restaurants, hotels, transportation, exports or businesses having difficulty in repaying debts ... Previously, this bank implemented a support package to reduce interest rates by 1.5% / year for import-export businesses, thereby offering solutions for debt rescheduling, debt restructuring.
Ho Chi Minh City Development Commercial Joint Stock Bank (HDBank) is also reducing preferential interest rates from 2 - 4.5% / year for individual customers and micro enterprises in the country. This support is effective from the beginning of April 2020. In addition, HDBank also has many credit packages for diverse types of customers during the Covid-19 season such as VND 10,000 billion to support price stabilization, consumer goods, necessities, flexible interest rates from only 6.5 % / year for enterprises supplying goods and services in supermarket chains; VND 5,000 billion in preferential financing for SMEs; 3,000 billion VND to sponsor businesses operating in the field of supplying pharmaceuticals, equipment, and medical supplies; VND 1,000 billion package for the agricultural and rural chain to ensure rice production and supply for the whole country and business households facing difficulties due to saline intrusion. In addition to the above banks, many other banks also continuously offer supportive solutions, lending commitments with interest rates falling from 0,
It can be said that the support wave for businesses and individual customers to overcome difficulties is being actively implemented by many banks in various forms and solutions to each target customer group. According to banks, this is one of the important measures to create cash flow and liquidity for borrowers. Customer support is an urgent and humane task in difficult times.
Joint hands to overcome difficulties
Facing difficulties of customers during the epidemic season, leaders of many banks in Binh Duong said that as soon as Vietnam confirmed the first cases, the banking system was soon involved. “If the psychology of waiting for instructions, both banks and businesses are having difficulties. Therefore, along with the system, BIDV Binh Duong has been synchronously implementing all supporting and coordinating policies with customers affected by the Covid-19 epidemic. Specifically, BIDV Binh Duong applies all multi-trillion dong economic stimulus packages, debt extension packages, interest exemptions, interest rate reductions and old loan packages from 0.75% to 2.5% / years for all subjects and many terms in accordance with the policies of the Government, the State Bank and BIDV. By the end of the first quarter, BIDV Binh Duong has implemented the above policies with 60 customers, total outstanding debt of over VND 5,000 billion, ”Mr. Tran Ngoc Linh,
Ms. Lai Thi Bich Thuy, Deputy Director of HDBank in Binh Duong branch, shared that identifying the disease is a common difficulty of the whole economy, banks are willing to accompany enterprises, people, sacrifice profits in the short term to support customers. Currently, HDBank has introduced many solutions, including money transfer service reduced by 30-50%, for customers sending money online, plus interest rates from 0.4 to 0.5% per year, while reducing interest rates for corporate customers. As of mid-March, there were 29 customers who had outstanding loans with debt rescheduling structure of a total amount of VND 38.6 billion and a loan reduction and exemption of VND 24 million. Currently, we are still waiting for new signals from businesses for timely support.
It can be said that, with the positive implementation of banks, from the beginning of March, the credit line has reached the right subjects to support and build trust in businesses. Duong Viet Thang customer, Di An City assessed that the banking industry had very timely policies. “The company has received positive support from HDbank Binh Duong recently. Instead of paying 100% of the principal and interest on a monthly basis, the company now pays only half. Not only that, banks continue to consider advising businesses to plan to overcome the Covid-19 disease, to borrow new loans to maintain operations and overcome difficulties, ”said Mr. Duong Viet Thang. And Mr. Nguyen Thong Thai, Tan Uyen Town expressed his joy when the banking industry has policies to lower interest rates, extend and postpone debt. “Enterprises are happy to reduce interest rates but they are allowed to relax and postpone debt repayment. We really need to extend the deadline to have conditions to pay the debt on time to the bank.
According to Mr. Vo Dinh Phong, Director of Binh Duong branch, during this period, the bank implemented measures such as debt restructuring, postponement, rescheduling, keeping debt group, reducing loan interest rates. old loans and new loans to existing customer groups including individuals and businesses, priority industries as well as other industries such as tourism, transportation business, restaurants, hotels, agricultural products, small businesses ... According to statistics, the province has an estimated 8,386 billion dong of debt affected by Covid-19 disease. It can be said that, with the rapid onset of the banking system from the central to local levels, it is believed that the banking sector will not only contribute to repelling the Covid-19 epidemic but also maintain the operational targets in the in 2020.
Reported by Thanh Hon g – Translated by Vi Bao
