Quang Nam connects banks with businesses

According to the report of the State Bank of Vietnam, Quang Nam branch, in the first 10 months of 2024, the whole province had 929 newly registered enterprises (down 7.9% over the same period last year) with a total registered capital of more than 5.1 trillion VND. The number of enterprises resuming operations was 413 (up 9.3% over the same period). The total number of enterprises entering and re-entering the market was 1,342 (down 3.2% over the same period). The number of enterprises withdrawing from the market was up to 1,390 (up 12.4% over the same period). The total number of enterprises operating in the area is 8,527.

Due to many factors affecting the impact of investment, production, business and consumption in the area in recent times, the growth rate of the banking industry has not yet reached the expected level. Outstanding loans by the end of October 2024 only increased by 2.14% compared to the beginning of the year. There is still a lot of room for lending by commercial banks. Up to now, Quang Nam has 31 credit institution branches, 3 credit funds, 1 representative office, 26 level 2 branches and 114 commercial bank transaction offices.

Mr. Pham Trong speaking at the conference. Photo: Q.VIET

In recent times, local credit institutions have complied well with regulations on interest rates. They have publicly posted interest rates at transaction counters and on websites, and have especially reduced unnecessary costs according to the industry's policy to support lowering lending interest rates and creating conditions for customers to access credit.

Total mobilized capital in the province reached VND 93,398 billion (up 9.47% compared to the beginning of the year). Outstanding loans increased mainly in the first 4 months of the year, but the growth rate was average, then continuously decreased and began to accelerate in October. Outstanding loans of commercial banks in the province to date reached VND 109,147 billion (up 2.14% compared to the beginning of the year, reaching 88.89% of the 2024 plan target), most units have not yet met the registered credit targets.

Regarding solutions to remove difficulties for businesses in accessing bank loans, the Quang Nam banking sector has actively deployed many solutions. Regarding restructuring debt repayment terms and maintaining debt groups, credit institutions extended the implementation period to December 31, 2024 instead of June 30, 2024. The banking sector reduced lending interest rates by 0.96 - 1.31%/year compared to the beginning of the year. Short-term lending interest rates for priority sectors are 4%/year; other short-term lending rates are 6.72%/year; medium and long-term lending rates are 9.52 - 10.04%/year.

Representatives of commercial banks and businesses attended the conference. Photo: Q.VIET

The State Bank of Vietnam, Quang Nam branch, regularly participates in dialogues and periodic meetings with businesses organized by the Provincial People's Committee. Through this, it has grasped information from businesses about difficulties and problems related to credit capital and has timely solutions to help businesses meet capital needs for production and business.

Commercial banks in the area are always interested in improving and innovating lending processes in the direction of simplifying procedures, reducing inconvenience for borrowers; at the same time, improving appraisal capacity to shorten loan processing time, creating conditions for businesses to access bank capital. Banks offer many credit products with more flexible lending conditions and preferential interest rates to create conditions for businesses to access bank capital.

Currently, the province is implementing many preferential credit packages for businesses such as the program "Accompanying business customers" of Vietinbank, BIDV lending 300 trillion VND to business customers. The short-term preferential loan program for FDI business customers in 2024 with a scale of 1,300 billion VND of ACB ...

Source: https://baoquangnam.vn/quang-nam-ket-noi-ngan-hang-voi-doanh-nghiep-3144109.html