State Bank strives to reduce lending interest rates by 1-2%/year

Directions to support businesses and people in accessing credit capital. Photo: H. Linh

Accordingly, units continue to drastically implement solutions to reduce costs, simplify lending procedures, increase the application of information technology and digital transformation in the lending process, in an effort to reduce lending interest rates by 1-2%/year, especially for areas that are traditional growth drivers, emerging industries, green transformation, circular economy , social housing, etc.

Commercial banks support businesses and people to develop production and business, increase access to bank credit capital according to the direction of the Government and Prime Minister .

Maintain a stable and reasonable mobilization interest rate level, consistent with the ability to balance capital, the ability to expand healthy credit and the ability to manage risks, stabilize the monetary market and market interest rate level.

Credit institutions continue to implement effective, correct, and targeted credit growth solutions, promptly meeting the economy's credit capital needs, directing credit to production and business sectors, priority sectors, and economic growth drivers.

Strive for credit growth of the whole system by the end of the second quarter of 2024 at 5-6% according to the Government 's policy and the Prime Minister's direction; strictly control credit for areas with potential risks, ensuring safe and effective credit activities.

Units actively review projects to ensure timely credit supply for feasible projects, speed up loan approval, apply flexible loan collateral measures and forms in accordance with legal regulations, and facilitate customers to borrow capital; promote diversification of banking credit products and services suitable for each customer segment, focusing on developing new credit products to meet people's living and consumption needs.

The State Bank also requires continuing to promote participation in bank-business connection programs, proactively coordinating with local Party committees, authorities, and socio-political organizations to organize exchanges and dialogues with loan customers to grasp and promptly handle and resolve customers' difficulties and problems effectively and practically, thereby expanding businesses and people's access to credit capital.

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