According to the State Bank, in the process of implementing Decree 31/2022/ND-CP on interest rate support from the state budget for loans of enterprises, cooperatives, and business households, the banking sector has actively coordinated with ministries and branches to deploy many synchronous solutions so that enterprises, cooperatives, and business households can soon access the policy.
The State Bank's report on the results of implementing the interest rate support program under Decree 31/2022/ND-CP shows that, as of September 30 (after 16 months of implementation), out of 44 commercial banks notified of the interest rate support limit, 36 commercial banks have generated interest rate support amounts.
Supported sales reached over VND 190,000 billion, outstanding interest support reached over VND 63,000 billion. The cumulative interest support amount since the beginning of the program has only reached about VND 873 billion (only reaching over 2.3% of the target of VND 40,000 billion) for over 2,200 customers (mainly for corporate customers accounting for 99%).
Notably, some commercial banks have had positive support results such as Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) accounting for 22.28% of total interest rate support, HSBC Bank accounting for 17.25%, Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV), Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank), Vietnam Bank for Agriculture and Rural Development ( Agribank ), Vietnam Technological and Commercial Joint Stock Bank (Techcombank)...
The State Bank said that since the policy was issued, it has established hotlines at State Bank branches in provinces and cities, commercial banks and branches of commercial banks to grasp the actual feedback from people and businesses. In addition, inter-ministerial working groups have been established to survey the actual implementation of the policy in some localities, thereby promptly urging, answering questions, removing difficulties and obstacles, creating favorable conditions for commercial banks and customers in implementation.
The State Bank has also submitted 10 reports fully reporting difficulties and obstacles in implementing the program, and has made specific recommendations and proposals to the Government , ministries, branches and localities to promote the implementation of the interest rate support policy.
However, according to the State Bank, the results of interest rate support are still low, not as expected, mainly due to reasons such as: customers do not meet the criteria for interest rate support such as business households without business registration...; customers meet the conditions but are afraid of post-audit; it is difficult to assess the ability to "recover"; some customers choose to borrow USD to take advantage of interest rates and foreign currency income, so they are not eligible for support...
In addition, the State Audit's thematic audit of this policy also identified some shortcomings in the implementation of the policy by commercial banks, such as slow issuance of internal guidance documents; lack of real focus on internal training and guidance; and failure to provide evidence that the unit proactively approaches, accompanies, and guides customers to understand the policy correctly and fully.
Internal guidelines have not yet established criteria to assess customers' "resilience" as a basis for considering interest rate support; the content of policy dissemination and propaganda is still sketchy, incomplete and unclear; the review and statistics of the number of files eligible for support according to the subjective assessment of the bank are still incomplete.
The State Bank said that in the coming time, this agency will resolutely implement measures within its authority to promote the implementation of the interest rate support policy according to Decree 31/2022/ND-CP; closely monitor the situation, promptly report to competent authorities on issues beyond its authority; direct commercial banks, media information, and guide customers and beneficiaries in accessing the policy.
The State Bank also requested ministries and branches to continue to coordinate in implementing communication and propaganda to promote the implementation of interest rate support so that interested subjects can access support policies from the budget; facilitate and speed up the payment and settlement process of interest rate support./.
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