Bac Ninh: Joining hands to support people and businesses to restore production and stabilize life

BAC NINH - Bac Ninh is one of the localities that suffered heavy damage due to the impact of storm No. 11. Together with all levels and sectors, the banking system in the area quickly took action, implementing many practical measures to support people and businesses to overcome the consequences, restore production, and stabilize life after the natural disaster.

Accompany and share with customers

The recent storm No. 11 has had a particularly serious impact on the lives and production of people in Bac Ninh province. According to the report of the Department of Agriculture and Environment, as of October 12, the total damage in the province was estimated at VND1,670 billion. The storm and flood damaged and collapsed 99 structures, inundated and isolated more than 20,800 houses; agricultural production suffered heavy damage; many businesses and production households had to temporarily suspend operations.

Mr. Luong Van Noi, Director of Agribank Bac Giang Branch (second from left) presented money to support loan customers affected by storm No. 11.

Faced with that situation, banks in the province urgently implemented the direction of the State Bank of Vietnam on supporting customers affected by natural disasters, storms and floods; focusing on reviewing outstanding debts, assessing the extent of damage, proactively restructuring debt repayment terms, exempting and reducing loan interest and increasing new loans to help people and businesses quickly restore production and business activities. Mr. Ngo Trong Duc, Director of Tien Luc Transaction Office of the Bank for Agriculture and Rural Development ( Agribank ) Lang Giang - Bac Giang II Branch said: "Tien Luc commune is one of the areas most heavily affected by storm No. 11. With the view that customers are partners of the bank, wherever the water recedes, we send staff to each customer to inquire and encourage them".

Mr. Pham Van Phong, San village, Tien Luc commune, owner of a wood production workshop, said: “The recent historic flood submerged the entire workshop, causing more than 1 billion VND in damage. After Agribank officials came to inquire, I was instructed to declare the damage to receive interest rate support, creating conditions to continue borrowing capital to restore production. Without this help, my family would have had difficulty restoring production.”

Similarly, the family of Mr. Nguyen Van Thinh, in Dun village, Tien Luc commune, had their fish pond, crab pond and 20-pig pen about to be sold submerged by floodwaters, causing a loss of about 300 million VND. Worried because the outstanding debt at the bank was still 250 million VND, Mr. Thinh was encouraged by bank staff, informed about the policy of exempting and reducing loan interest rates, and at the same time guided on procedures to continue borrowing capital to restore production. Hearing this, Mr. Thinh and his wife felt reassured and had more motivation to invest in production.

Flexible monetary policy adjustment

Implementing Official Dispatch No. 8622 dated October 2, 2025 of the State Bank of Vietnam on urgently implementing solutions to support people to overcome the consequences of storm No. 10 and post-storm floods, the entire credit institution system in the province has actively participated. The State Bank of Vietnam, Bac Ninh Branch, directed commercial banks to implement support policies in accordance with regulations, promptly, to the right subjects and closely monitor the situation to report and recommend competent authorities to remove difficulties for customers.

Leaders of Agribank Lang Giang - Bac Giang II Branch met and shared with the family of Mr. Pham Van Phong, San village, Tien Luc commune.

In particular, Agribank and the Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) Bac Giang Branch are two units with many practical activities, clearly demonstrating social responsibility and the spirit of sharing. Based on the direction of the General Director of Agribank Vietnam on overcoming the consequences of natural disasters, Agribank Bac Giang Branch has spent 1 billion VND from the 2025 Social Security Fund to support the locality and people to overcome the damage; at the same time, Agribank Bac Giang Branch II also spent an additional 1 billion VND from this fund for the same purpose. Previously, immediately after grasping the damage situation, officers and employees of Agribank Bac Giang Branch donated 210 million VND, Agribank Bac Giang Branch II donated 220 million VND - all of this money was given directly to people affected by storm No. 11.

In parallel with social security activities, Agribank also reduced interest rates from 0.5% to 2% per year for affected customers, waived overdue interest and late payment interest from October 1 to December 31, 2025, and implemented a preferential credit package for customers to reinvest and restore production. Mr. Luong Van Noi, Director of Agribank Bac Giang Branch, said: "Agribank branches in the province have also organized propaganda and information so that units, people and customers can understand the above credit policy."

BIDV has directed the entire system to urgently review the damage and propose appropriate support plans. BIDV Bac Giang Branch alone recorded about 20 affected customers, of which 12 are businesses with a total preliminary damage of 5 billion VND. The bank is implementing debt extension, reducing loan interest rates and creating new loan conditions to help customers maintain operations. BIDV Trade Union also launched the program "Mobilizing support for compatriots to overcome damage caused by storms No. 10 and 11", calling on all officers and employees to contribute one day's salary. BIDV Bac Giang Branch alone has twice donated a total of 700 million VND to support people in disaster areas.

Representatives of BIDV and Agribank Bac Giang Branch affirmed that, in addition to credit policies, the banking sector will continue to closely coordinate with local authorities in calculating damages, completing support documents and recommending the restoration of essential infrastructure (electricity, roads, water, communications) to create conditions for people and businesses to soon stabilize production.

With the spirit of “banking for the community”, the timely and practical actions of the Bac Ninh Banking system not only contribute to reducing the burden after natural disasters, but also demonstrate social responsibility, joining hands to overcome the consequences of storms and floods.

Article and photos: Do Thanh Nam

Source: https://baobacninhtv.vn/bac-ninh-chung-tay-ho-tro-nguoi-dan-doanh-nghiep-khoi-phuc-san-xuat-on-dinh-doi-song-postid429336.bbg