Due to the impact of Typhoon No. 3 in mid-September, many borrowers suffered heavy losses and urgently need support policies from banks in the area to restore production and business after the floods. Following the directives of the Government and the State Bank of Vietnam, the Agricultural and Rural Development Bank - Thanh Hoa Branch ( Agribank Thanh Hoa) is currently focusing on reviewing and assessing the extent of damage to its affected borrowers. This will allow them to provide timely financial support to help them restore production and business.
Nearly two months have passed since the floods, but the family of Mr. Pham Cong Vien in Thiet Ke commune (Ba Thuoc district) is still reeling from the shock and grief over the complete loss of their house and livestock. Pointing to his still-ruined house, buried under debris, Mr. Vien said: “The heavy rain caused landslides, burying not only our house but also our livestock area, trees, and crops, causing hundreds of millions of dong in damage. Currently, my family is temporarily staying at the village's cultural center and gradually restoring production. However, thinking about the 200 million dong loan we received from the bank to invest in reforestation and buy livestock for farming, I am very worried and don't know how to handle it.” Understanding the extent of the customer's losses, Agribank Ba Thuoc promptly completed the necessary paperwork and reduced the interest rate by 0.5% on the family's outstanding 200 million dong loan. In addition, the bank also provided Mr. Vien's family with 5 million VND to help them recover from the damage.
Reportedly, due to the impact of Typhoon No. 3, nearly 100 households in Ba Thuoc district suffered damage. Agribank Ba Thuoc immediately implemented measures to support the people, such as visiting and waiving or reducing interest rates for customers. Currently, the bank is continuing to review and assess the risk progress and recovery potential of customers, and based on that, apply measures such as debt restructuring, debt freezing, and new loans to help customers recover production and business.
Agribank Thanh Hoa has directed its branches and transaction offices to proactively calculate support plans, restructure loan terms, maintain loan classifications, consider waiving or reducing interest for affected customers, and implement new credit programs with appropriate interest rates. At the same time, it continues to provide new loans to customers to restore production and business after the storm in accordance with current legal regulations. As of October 15th, a review revealed that approximately 170 customers in Agribank Thanh Hoa were affected by the storm and floods, with outstanding loans totaling nearly 22 billion VND. To promptly support customers in restoring production and business, based on the extent of damage, Agribank Thanh Hoa has reduced loan interest rates by 0.5% to 2% per year and waived 100% of overdue and late payment interest for customers from September 6th to December 31st, 2024. For new loans disbursed from September 6, 2024, Agribank is reducing lending interest rates by 0.5% per year, depending on the borrower and sector. In particular, the bank is urgently implementing a VND 5,000 billion preferential loan package for individual customers affected by Typhoon No. 3 and subsequent flooding, with interest rates starting from only 3.6% per year. To ensure customers understand the support policy, Agribank Thanh Hoa has deployed credit officers to proactively reach customers in areas with difficult transportation access, providing timely guidance on completing procedures for interest rate reductions and restructuring principal repayment terms. Importantly, Agribank Thanh Hoa has minimized procedures and paperwork to enable customers to access new loan capital promptly, supporting production, business, and stabilizing their lives. The timely support and assistance policies of Agribank Thanh Hoa have created favorable conditions for customers affected and damaged by storms and floods to quickly stabilize their lives and restore production and business.
In addition to providing timely financial support to customers, with a spirit of "mutual assistance and compassion," Agribank Thanh Hoa has also actively participated in programs to support people affected by storms and floods, with a total donation of nearly 550 million VND to date. Through this, they have joined hands with local authorities and people to overcome difficulties and quickly stabilize their lives.
Article and photos: Khanh Phuong
Source: https://baothanhhoa.vn/ho-tro-khach-hang-bi-thiet-hai-do-bao-lu-khoi-phuc-san-xuat-kinh-doanh-229248.htm
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