In the situation of the Covid-19 epidemic negatively affecting all aspects of the economy and society, including production, business, banks have been doing measures to support people and businesses to overcome damage caused by the epidemic.
In the situation of the Covid-19 epidemic negatively affecting all aspects of the economy and society, including production, business, banks have been doing measures to support people and businesses to overcome damage caused by the epidemic.
According to the report of the State Bank - Khanh Hoa Branch, on February 29, the whole province had 684 borrowers (203 enterprises and 481 individuals) affected by Covid-19 epidemic with the loans of nearly VND9,062 billion, accounting for 10.74% of the total affected loans of the whole province. In particular, 153 borrowers are in tourism, with the credit balance of more than VND3,457 billion, accounting for 38.15% of the affected credit balance. 130 borrowers are in transportation industry, with the nearly VND2,344 billion, accounting for 25.86%. 24 borrowers are in processing and manufacturing industry (food, beverage, textiles ...) with loans of nearly VND1,472 billion, accounting for 16.24%. 100 borrowers in consumer, commercial business with the loans of nearly VND498 billion, accounting for 5.49%. Real estate business related to tourism has 18 borrowers with the affected credit balance of nearly VND443 billion, accounting for 4.88%. The agricultural sector has 227 borrowers with loans of more than VND295 billion, accounting for 3.26%. Construction has 24 borrowers with loans of nearly VND430 billion, accounting for 4.74%. Other sectors (education, healthcare, information and communication, etc.) have 7 individual borrowers, with loans of nearly VND15 billion, accounting for 0.17% of the affected loans.
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Leader of a company in the garment industry said that the company encountered some difficulties in production and business but banks have helped timely by reducing loan interest rates and raising credit limits. According to Mr. Nguyen Hoai Chieu - Director of the State Bank - Khanh Hoa Branch, under the instructions of the State Bank, Khanh Hoa Branch promptly directed credit institutions in the province to focus on developing support measures to overcome damage caused by the Covid-19 epidemic. As a result, branches of credit institutions in the province have set up and appraised dossiers of request for debt term adjustment and debt extension to submit to their head offices for consideration for 19 customers, with nearly VND202 billion in credit balance. Currently, credit institutions are developing support programs and credit packages to continue investing in businesses affected by the Covid-19 epidemic with a total value up to VND285,000 billion. While waiting for the credit policy from their headquarters, the credit institutions' branches in the province have lent 16 customers with the amount of nearly VND15 billion.
In addition, many credit institutions' branches in the province have actively reduced lending interest rates for their customers. Specifically, banks reducing lending interest rates in VND by from 1%/year or less include ABBANK Khanh Hoa, SCB Khanh Hoa, BIDV Khanh Hoa, Vietcombank Nha Trang and PVcomBank Khanh Hoa. Banks with the reduction of 1-2% for lending interest rates in VND are Vietcombank Khanh Hoa, VietinBank Khanh Hoa, VP Bank Nha Trang, Sacombank Khanh Hoa, ACB Khanh Hoaand SHB Khanh Hoa. Particularly, KienLongBank has lowered lending the interest rates in VND by 2%/year or more, and 3%/year for customers who borrow capital from growing dragon fruits, watermelons, durians, jackfruits, mangoes, rambutans and bananas. The period of application is from February 1 to April 30, 2020. BIDV Khanh Hoa, Vietcombank Khanh Hoa and SHB Khanh Hoa have given the reduction of from 0.5%/year for lending interest rates in USD.
In order to support customers, a number of credit institutions have launched preferential credit packages. NamABank implemented the program of VND100 billion with reduced lending interest rates of 0.3%/year for USD and 0.5%/year for VND. Vietinbank spends VND15,000 billion dong and USD150 million to implement the program to promote short-term credit growth with lending interest rate of 5%/year for VND and 2.8%/year for USD. Vietcombank reduces loan interest rate in VND by 1%/year and 0.5%/ year in USD for new loans. BIDV is implementing a credit package of VND5,000 billion exclusively for individual customers with loans for production and business activities in the fields affected by Covid-19 epidemic. In addition, BIDV is also implementing a VND10,000 billion credit package with interest rates from 6.5%/year and from 7.5%/year for ordinary individual customers to borrow for production and business.
In addition to credit solutions to remove difficulties for customers affected by the Covid-19 epidemic, credit institutions also applied many policies of fee exemption and reduction to encourage customers to do electronic transactions, non-cash payments to limit virus spread, etc.
Nam Du
Translated by T.T
