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| Agribank allocates preferential capital to support corporate customers.__Photo: Agribank |
In order to support businesses in accessing capital to promote production and business, Agribank sets aside VND 20 trillion to implement a short-term preferential credit program for large businesses with interest rates up to 2.0 percent per annum lower than normal lending interest rates.
Playing a key role in the country’s monetary policy, economic development, and assurance of social security, Agribank always proactively allocates preferential capital to support corporate customers to improve operational efficiency and expand production and business.
From February 27 to December 31, 2024, large corporate customers can access short-term preferential interest rates up to 2 percent p.a. lower than normal lending interest rates from Agribank to supplement working capital to implement production and business plans. The incentive program targets businesses with effective business plans and operations and in need of short-term loans.
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| Agribank offers credit incentives for private enterprises.__Photo: Agribank |
In addition to enjoying preferential interest rates, businesses participating in the incentive program can also use modern banking facilities and products and services, creating a comprehensive and flexible financial solution to overcome difficulties. Products targeting corporate customers include term deposits, payroll services, bill payments, automatic investments, electronic tax payment, trade finance services, foreign currency trading, corporate credit cards, electronic banking, among others.
In 2024, Agribank plans to reserve more than VND 100 trillion to provide soft loans to corporate and individual customers with credit needs. Since the beginning of the year, the bank has proactively adjusted to reduce lending interest rates, implementing credit programs with a scale of more than VND 120 trillion with lending interest rates 2.5-3 percent p.a. lower than normal interest rates to encourage and support customers. The bank has also implemented credit incentives for corporate customers investing in projects in six key industries (with the lowest fixed interest rate for the first year of 6.0 percent p.a.); for small- and medium-sized enterprises to borrow additional short-term working capital (with preferential interest rates up to 1.5% p.a. lower than usual).
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| More individuals benefit from Agribank short-term preferential credit program.__Photo: Agribank |
On February 22, 2024, the Prime Minister signed and issued Directive No. 07/CT-TTg on solutions to improve national labor productivity, improve production and business efficiency, and promote investment and development of state-owned enterprises. In furtherance of this policy, Agribank continues to set aside VND 20,000 billion to provide short-term loans with special preferential interest rates to support 19 groups and corporations that have made many important contributions to the country's socio-economic development.
In addition to proactive solutions to support business customers, Agribank also offers credit incentives for individuals for consumption purposes, private enterprises for production and business purposes, and incentive programs in the green sector that contribute to implementing the net-zero commitment and developing a green and sustainable economic model in Vietnam.-(VLLF)
