|Agribank makes numerous efforts to facilitate safe and efficient business activities__Photo: VLLF|
In the first nine months of this year, the Vietnam Bank for Agriculture and Rural Development (Agribank) made numerous efforts to facilitate safe and efficient business activities, taking more solutions to help the economy overcome difficulties, including reducing lending interest rates, increasing customers’ accessibility to credit packages and offering preferential credit facilities.
Following the State Bank of Vietnam (SBV)’s direction, since the beginning of this year, Agribank has reduced lending interest rates five times. Accordingly, annual interest rates have been reduced by 1.3-2.5 percent for various production and business fields; 2-3 percent for consumption loans, and 3-4 percent for the real estate sector.
It is estimated that Agribank has spent more than one trillion dong on reducing lending interest rates, with some 2.2 million customers enjoying the support.
|Agribank has spent more than one trillion dong on reducing lending interest rates__Photo: VLLF|
With the aim of increasing customers’ accessibility to various loans and inhibiting “black credit” (loan sharks), since 2019, Agribank has been implementing a consumption credit program with a total funding of VND 5 trillion, lending up to VND 30 million to each borrower without collateral. The program’s turnover has so far exceeded its expected scale, reaching more than VND 76 trillion lent to 834,000 borrowers.
|Agribank has implemented various soft loan programs with a total lending amount of VND 10 trillion for diverse subjects__Photo: VLLF|
In the January-September period of this year, Agribank restructured debts for 3,700 customers owing a total debit balance of VND 33.6 trillion, and also provided interest support to 829 customers with a total interest support amount of VND 77 billion for a total lending amount of VND 13.312 trillion and debit balance of VND 4.564 trillion. It has imposed no overdue interest rate or late payment interest rate.
It has also implemented various soft loan programs with a total lending amount of VND 10 trillion for diverse subjects, including programs on provision of preferential loans for forestry and aquaculture sectors, importers and exporters, small- and medium-sized enterprises, state budget-salaried employees and health workers. Particularly, it has approved two social housing projects and reduced lending interest rates by three percent for real estate developers during the period from January 31, 2023, through December 31, 2024.- (Ngoc Thuy)