Agribank Khanh Hoa has actively implemented credit support policies for customers affected by the Covid-19 epidemic.
Agribank Khanh Hoa has actively implemented credit support policies for customers affected by the Covid-19 epidemic.
Implementing the policy of the Government, the State Bank and Agribank on interest rate management in 2020, from the beginning of the year until now, Agribank Khanh Hoa has adjusted lending rates for customers, especially the ones affected by Covid-19. Accordingly, the branch reduced interest rates for short-term, medium-term and long-term loans in Vietnam dong for 5 priority areas according to Circular 39 of the State Bank and the Government's interest rate support program. Regarding loans for raising livestock, processing pork, poultry, pangasius and shrimp, the interest rate is only 5% per annum for short-term loans and only from 7.5% to 10.5% per year medium and long terms.
Agribank Khanh Hoa has reduced interest rates for customers affected by Covid-19, the maximum reduction of 1%/year, has launched a preferential credit program for customers affected by the Covid-19 epidemic with the funding up to VND100,000 billion; the preferential interest rate is reduced from 0.5%/year to 2.5%/year (applied to new disbursements).
As a state-owned commercial bank, Agribank has always been a pioneer in reducing deposit rates under the direction of the Government and the State Bank, and then lowering lending rates to support difficulties in production and business and partlt recover the economy after the impact of Covid-19 epidemic. So far this year, Agribank Khanh Hoa has reduced VND deposit interest rates 4 times for individual and institutional customers at all term deposits.
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By the end of April, Agribank Khanh Hoa restructured the repayment period, keeping the debt group for 132 customers, with a loan balance of VND242 billion, including 95 individual customers with VND32 billion outstanding loans and 37 legal entity customers with VND210 billion in outstanding loans. Besides, the bank branch has exempted and reduced interest and fees for customers with VND72.6 billion.
Implementing preferential credit program for customers affected by the Covid-19 epidemic issued by Agribank with preferential interest rates reduced from 0.5%/year to 2.5%/year, the branch has disbursed VND307 billion to a total of 179 customers. Of which, 127 individual customers with VND109 billion of loan sales, 52 legal customers with VND198 billion of loan sales.
In the coming time, in addition to reviewing and grasping the situation of production and business, determining the damages of customers to restructure the repayment term, exemption, reduction of interest and fees, Agribank Khanh Hoa will continue to effectively implement the above preferential credit package, ensure sufficient capital supply for customer needs, decrease deposit rates to reduce lending rates in order to accompany and solve difficulties for production and business activities.
Nam Du
Translated by T.T
