"Launching" many attractive credit packages exclusively for businesses

Credit institutions in the area are creating conditions for capital to help Ha Tinh enterprises boost production and business, soon reaching the 2023 plan.

Ha Tinh is implementing many key projects, including the North-South Expressway construction project in the East phase 2021-2025. This is considered an advantage for businesses operating in the field of construction materials production such as Tran Chau Construction Investment Company Limited (Bac Cam Xuyen Industrial Park) to expand the market for product consumption.

Tran Chau Construction Investment Company Limited is funded by Vietcombank Ha Tinh.

Ms. Tran Thi Thanh - Chief Accountant of the company said: "The company's revenue in 9 months has reached 100 billion VND. In the last months of the year, orders increased sharply, so the company is focusing on producing large quantities of commercial concrete, unburnt bricks, pipes... The loan from Vietcombank Ha Tinh is an important resource for the company to soon complete the revenue target of 130 billion VND in 2023. Accordingly, Vietcombank has just increased the loan limit by 15 billion VND and sharply reduced the loan interest rate. Currently, short-term loan interest rates range from 5.5 - 6.3% / year (equivalent to the interest rate of the same period in 2022)".

Mr. Duong Quoc Khanh - Head of Corporate Customer Department, Vietcombank Ha Tinh said: "The branch's corporate debt balance as of September 21, 2023 reached VND 8,038 billion, an increase of VND 2,145 billion compared to the beginning of the year. The high growth in corporate debt is due to Vietcombank Ha Tinh proactively implementing many synchronous solutions, including reducing lending interest rates to a low and stable level in the market. Accordingly, the current lending interest rate is from 5 - 7.5%/year (short-term package) and from 7.5 - 9.5%/year (medium and long-term package).

In addition to preferential interest rates for new loans, Vietcombank has twice reduced interest rates for old loans, contributing to reducing financial costs for businesses. In addition, the branch always focuses on simplifying lending procedures, improving appraisal efficiency to increase lending to customers with feasible plans but low collateral ratios. In general, large growth in corporate credit is mainly in the manufacturing, trading of iron and steel, and construction materials industries..."

Vietcombank Ha Tinh's corporate debt balance as of September 21, 2023 reached VND 8,038 billion.

With the goal of bringing capital into the economy, a series of other "big" banks are also "launching" many credit products specifically for corporate customers. Specifically: BIDV Ha Tinh is implementing a medium-term credit package for corporate customers. Priority is given to businesses in the fields of renewable energy, industrial park construction, loans for factory construction for lease, industrial park real estate business, food production and processing, logistics infrastructure, pharmaceuticals, etc. With this credit package, BIDV applies a loan interest rate 1 - 1.5% lower than the listed interest rate.

Agribank Ha Tinh II Branch also applies preferential credit programs for business customers such as: for small and medium enterprises, the preferential interest rate is reduced by 0.3 - 0.7%/year compared to Agribank's current interest rate floor. For import-export customers, the preferential interest rate is up to 1%/year lower than Agribank's current interest rate. In addition, for the forestry and fishery sector, the preferential interest rate of the program is at least 1 - 2%/year lower than Agribank's average lending interest rate for the same term.

At the same time, joint stock commercial banks such as Bac A Bank, HDBank, ACB... all strive to "pour capital" into enterprises to invest in production and business in the final stages of the year.

Customers come to transact at Bac A Bank Ha Tinh.

Mr. Phan Cong Huan - Director of Bac A Bank Ha Tinh informed: "The unit continues to promote administrative procedure reform in the banking sector; publicize and make transparent loan records, procedures, fees and charges to create the best conditions for corporate customers in transactions and access to banking services. In addition, Bac A Bank has reduced lending interest rates from 2 - over 3%/year compared to the beginning of the year to create development momentum for businesses. The branch's corporate debt currently accounts for over 50% of the total outstanding debt".

According to records, currently, businesses operating in the livestock sector are facing many challenges from the market and epidemics. In that context, the Ha Tinh banking sector is actively accompanying businesses to help them overcome difficulties and stabilize production.

Mr. Mai Khac Mai - Director of Ha Tinh Agricultural and Forestry Development Joint Stock Company (Can Loc) said: "Currently, it is the transitional season, the risk of disease outbreak is high, so the cost of disease prevention must increase 3-4 times compared to normal times. At the same time, the price of animal feed continues to remain high (up over 35% compared to before the COVID-19 pandemic), but the price of live pigs has decreased sharply (53,000 - 54,000 VND/kg), so businesses have to suffer losses.

In difficult conditions, fortunately, banks have provided tens of billions of VND in working capital and reduced lending interest rates (currently at 6%/year), so businesses have the resources to maintain production and not break the livestock chain at 18 satellite farms with about 2,500 sows and 3,500 pigs/batch.

Livestock businesses are facing many difficulties and need investment capital for development.

In recent times, the provincial State Bank has regularly directed credit institutions to strengthen policy communication to businesses. Approach and grasp the difficulties of businesses in production and business activities and in credit relations with banks; promptly have solutions to support businesses such as: new loans, credit limit adjustment, loan interest rate reduction, debt restructuring... By the beginning of September, outstanding loans to businesses of the Ha Tinh banking sector reached 32,661 billion VND, accounting for 36.10% of total outstanding loans in the whole area.

In the coming time, the provincial State Bank will continue to thoroughly instruct credit institutions to effectively implement the interest rate support policies of the Central Government and the province. In particular, promote the implementation of the interest rate support policy of 2%/year according to Decree No. 31/2022/ND-CP of the Government, the policy of supporting 50% of loan interest rates according to Resolution No. 51/2021/NQ-HDND of the Provincial People's Council. At the same time, actively implement solutions to remove difficulties for businesses according to Circular No. 02/2023/TT-NHNN, proactively deploy the credit package of 120,000 billion VND and the preferential credit program for forestry and fishery products (15,000 billion VND).

Thu Phuong

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