Agribank - A solid support to help customers revive production

Faced with severe damage caused by floods, Agribank's timely and proactive intervention has become a solid support, helping customers revive production.

Two consecutive storms hitting the North have left many localities submerged in mud and floods. Factories were deeply submerged, roads were cut off, production was halted, and hundreds of businesses and cooperatives were in trouble. In the face of heavy damage caused by floods, Agribank 's timely and proactive intervention has become a solid support, helping customers revive production. Agribank's actions are not simply a financial solution but also a "reconstruction" of trust and social security stability in affected areas.

The career was swept away by the flood.

Natural disasters caused by storms and floods have left serious consequences not only for people but also for businesses, especially at large-scale production facilities such as the Viet Cuong Vermicelli Cooperative in Nam Hoa Commune, Thai Nguyen City. The flood caused by storm No. 11 Matmo has almost completely paralyzed this facility specializing in supplying clean vermicelli.

The floodwaters rose so high that in just one night, the entire factory was submerged nearly 2 meters deep. More than 200 tons of pre-processed vermicelli, raw materials and finished products, along with machinery, soaking tanks, and packaging systems worth nearly 15 billion were completely destroyed. Mud stuck to vermicelli and machinery, and covered the floor.

Mr. Nguyen Van Ba, Director of Viet Cuong Vermicelli Cooperative, stood in the middle of the ruins, his back hunched as if he was carrying debts he knew he would never be able to repay. His eyes were red, lost in the smoke, mud, and humidity. His calloused hands, which had once caressed each batch of vermicelli, could only tremble… He could not speak. The silence became a hoarse, choked voice in his chest: “The water rose too quickly, we could not move in time. In just a few hours, everything was submerged in the muddy water. Each vermicelli tray, each bag of tapioca flour, if not submerged in mud, was washed away.”

Mr. Nguyen Van Ba, Director of Viet Cuong Cooperative, is still confused about what is happening.

After the flood receded, the entire vermicelli factory was in disarray, the brick floor covered in mud and the smell of dampness was strong. Dozens of workers were still trying to clean up. Thinking about the worries about the contracts that had to be compensated, Mr. Ba said bitterly: "We have been doing this job all our lives, and just a few days later, we lost everything. We really don't know where to start again."

Not only Viet Cuong Cooperative, not far away, Ha Lan Trade and Tourism Joint Stock Company, a large passenger transport enterprise of Thai Nguyen province, also suffered unprecedented losses.

The vermicelli factory of Viet Cuong Cooperative was completely submerged in flood water.

The torrential rain that lasted all night caused the company's factory to be deeply flooded. Water flooded the parking lot, submerging hundreds of vehicles. Engine oil, spare parts, and components were damaged en masse, forcing dozens of bus routes to temporarily stop operating.

Mr. Nguyen Manh Ha - Chairman of the Board of Directors and General Director of the company shared: “We were unable to react in time. Vehicles were flooded, electricity was short-circuited, spare parts warehouses were damaged, roads were cut off… Almost all operations were paralyzed. The team of drivers and employees were confused, and revenue was considered zero”. This incident completely disrupted the supply chain and passenger transport services, which are the lifeblood of the province. Prolonged suspension of operations could lead to loss of market share and loss of trained human resources.

The number of broken down vehicles and lost fuel caused the company to lose up to 30 billion VND.

The damage is estimated at around 30 billion VND, but what worries Mr. Ha more is the cash flow drying up, while salaries, insurance and repair costs are still piling up. “Businesses hope for some kind of support policy to resume production,” Mr. Ha said.

At this time, timely intervention from the financial system is the only lifebuoy that helps businesses keep breathing, waiting for the day to restart.

Reduce interest rates, restructure debt, stabilize livelihoods

Faced with the situation of many customers falling into exhaustion, Agribank Thai Nguyen Branch, the unit with many affected businesses, quickly activated emergency support solutions, demonstrating its role as one of the pillar banks.

The entire affected credit portfolio was reviewed. Loans were reduced in interest rates, restructured in terms, extended in repayment terms, exempted from payment fees and guided to access preferential capital sources to restore production and business.

Agribank officials visit and encourage Dutch businesses.

Mr. Bui Trung Dung - Deputy Director of Agribank Thai Nguyen Branch, shared: "Each loan is a livelihood. When the storm and flood pass, what customers need most is capital to restore production. Implementing the policy of the State Bank and Agribank, we quickly took action, on the one hand to encourage, on the other hand to find the best solution to support customers."

Field trips by bank staff to each facility and each production household have helped many businesses find a way to recover. For the Viet Cuong Cooperative and the Ha Lan Company, this financial support is the most important lifebuoy. That support is not only material but also a humane and timely sharing in the most difficult time.

Comrade Pham Toan Vuong - General Director of Agribank worked with branches in Thai Nguyen province to inspect and direct the work of overcoming the consequences of storm No. 11, and visit workers and customers who suffered losses.

The prerequisite for businesses and households affected by the disaster to be able to get back on their feet is to relieve the pressure of debt and access new sources of capital. Immediately after the storm, Agribank implemented an emergency process, shortening procedures to assess the extent of damage and applying special policies.

Mr. Bui Trung Dung - Deputy Director of Agribank Thai Nguyen Branch and staff went to the base to encourage customers.

For customers like the Viet Cuong Cooperative, old debts are evaluated to restructure the repayment period and reduce interest rates, hoping to help the cooperative have time and resources to clean up and repair machinery.

In parallel with debt extension, Agribank has also actively disbursed new loans with preferential interest rates, focusing on the goal of restarting business. Agribank's proactive and prompt participation has received recognition from local authorities.

Mr. Nguyen Van Quang - Chairman of the People's Committee of Nam Hoa Commune, Thai Nguyen City, said: "The bank's support is not only capital relief but also a great source of spiritual encouragement. It is this timeliness that has helped the locality maintain social security, helping people stabilize their lives soon."

Bank staff visit each family and business to find the best solution to support.

Viet Cuong vermicelli factory and the Dutch company still have much work to do. But what is remarkable is that in the midst of hardship, they saw a helping hand; in the midst of desolation, they believed that they would not be left behind.

Agribank does not promise to erase all losses, but the bank commits to accompany, provide maximum support, rebuild trust and assist in restarting production and business. And it is that trust, placed at the center, that will be the driving force for customers to firmly embark on the journey of recovery and rise stronger.

Mr. Nguyen Van Quang - Chairman of Nam Hoa Commune People's Committee, Thai Nguyen City said that the bank's support is a great source of spiritual encouragement.

Source: https://baoquocte.vn/agribank-diem-tua-vung-chac-giup-khach-hang-vuc-day-san-xuat-332223.html