Promoting growth targets in the banking system

HDbank Son La staff regularly exchange credit operations.

State Bank Region 3 Branch is under the State Bank of Vietnam, established on the basis of merging State Bank branches of 4 provinces: Son La, Hoa Binh, Dien Bien and Lai Chau. State Bank Region 3 has proactively advised the Provincial Party Committee and Provincial People's Committee in monetary, banking, foreign exchange management and socio- economic development.

Proactively analyze and evaluate the socio-economic situation in the locality, especially in key areas and key economic projects, to promote credit growth. Direct credit institutions to increase capital mobilization, diversify credit products to suit the needs of people and businesses, with reasonable interest rates. Coordinate with provinces to effectively implement the Bank - Business connection program, creating conditions for 1,165 businesses and 1,699 customers to borrow VND 20,500 billion; restructure for 17 customers and reduce lending interest rates, fees and many other forms of support. In the first months of 2025, short-term lending interest rates for priority areas will not exceed 4%/year at commercial bank branches and not exceed 5%/year at people's credit funds...

In Son La province, there are 22 credit institutions with 52 transaction offices and 281 transaction points, meeting the credit demand for economic development. By the end of April, capital mobilization of the banking system in the province reached 39,420 billion VND; total outstanding loans reached 49,125 billion VND. Credit sources are mainly concentrated in strong areas, such as: Agricultural and rural loans account for 50.17% of total outstanding loans; business loans account for 37.2% of total outstanding loans...

Customers come to transact at Abbank Son La.

Mr. Pham Van Bang, Director of Agribank Son La, said: In 2025, Agribank Son La sets a growth target of 13%. The unit promotes the implementation of the Bank - Enterprise connection program, grasps the loan demand and promptly handles and resolves difficulties and problems of customers; proactively approaches customers with loan demand, works with businesses to develop plans, creating conditions for businesses to access loan sources to invest in production development, business and growth.

For BIDV Son La Bank, the average growth rate of outstanding loans from 2020-2024 reached 8.1%, with the proportion of loans to corporate customers in 2024 accounting for nearly 50%. Mr. Nguyen The Dung, Director of the bank, informed: BIDV Son La creates conditions for businesses in the province to borrow preferential credit packages, such as: VND 450,000 billion package for corporate customers; VND 75,000 billion medium and long-term credit package for corporate customers; VND 30,000 billion social housing credit package; green credit package to finance clean water production and supply projects... For individual customers, BIDV has implemented competitive retail credit packages with lending interest rates lower than usual from 1 to 1.5%/year.

BHL Son La Agricultural Products Processing Joint Stock Company is implementing the construction of BHL Son La Modified Starch Processing Factory, in Mai Son Industrial Park, with a capacity of 90,000 tons of products/year, equivalent to 300 tons of products/day and night, with a total investment of over 244 billion VND, expected to be completed and put into operation in the fourth quarter of 2025. Ms. Chu Thi Kim Oanh, Director of BHL Son La Agricultural Products Processing Joint Stock Company, shared: Through bank-enterprise connection activities, the unit has signed a comprehensive strategic partnership agreement with Vietinbank Son La, providing services: Project investment loans, production working capital, guarantee services, money transfer, deposits... to help save costs, time, and increase business efficiency.

In addition to commercial banks, the Provincial Social Policy Bank Branch prioritizes capital for poor households and other policy beneficiaries. In the first 5 months of the year, the Branch had a total outstanding loan of more than 7,157 billion VND, with over 122 poor and near-poor households and other policy beneficiaries having the conditions to develop livelihood models, generate income, contributing to creating jobs for over 1,000 workers and over 4,000 poor and near-poor households and policy beneficiaries in disadvantaged communes.

Creating momentum for economic growth, in the last months of the year, the banking sector has been proactive, flexible and effective in operating and implementing monetary policy, striving to boost credit growth, focusing capital on production and business sectors and priority programs...

Source: https://baosonla.vn/kinh-te/thuc-day-muc-tieu-tang-truong-trong-he-thong-ngan-hang-ztmcaCaNg.html