Trang Chủ
Accordingly, in response to Resolution No. 13/NQ-CP of the Government dated May 10, 2012 on some solutions for easing difficulties in production and supporting the market and to successfully organize the workshop among banks, enterprises, and the local authorities , SBV requires credit institutions and foreign bank branches to report their credit programs and products which are being implemented and expected to be implemented in 2012 to remove difficulties for enterprises and promote the credit growth from now until end 2012. Reports of credit institutions and foreign bank branches should provide full information, including the name of programs and products, timeline for implementing programs; implementers; participating conditionality; total credit caps of programs; interest rates and other contents (if any).
SBV requires credit institutions and foreign bank branches to send their reports to SBV (the Credit Department) by August 2, 2012.
Banks reducing lending rate to 15pct per year for over 30pct of old loans
Banks are urgently implementing and completing the reduction of lending interest rate for all old loans to less than 15 percent per year within July.
According to the local newswire VnExpress, Nguyen Thi Mai Suong, the State Bank of Vietnam (SBV)’s Hanoi Branch director, had exchange at the dialogue conference between banks and enterprises held by the central bank and Hanoi People’s Committee on July 20.
Suong said that presently, in Hanoi, 12 banks and eight financial companies together with 89 bank branches of Vietcombank and Bidv have strictly reduced the lending rates for old loans to maximum 15 percent per year. Of which, Vietcombank made an automatic reduction throughout its system for all old loans to the maximum 15 percent per year.
Since July 15, Hanoi has reduced the lending interest rate to the maximum of 15 percent per year for 30-50 percent of the total old loans, of which, Vietcombank and Bidv have 100 percent finalised the lending rate cut.
Meanwhile, other banks are also urgently carrying out and trying to complete the lending interest rate cut to maximum 15 percent per year for all old loans, said Suong.
Suong added, credit growth of Hanoi-based banks in June reached 4.38 percent from early this year and credit growth in June alone was 2.5 percent from May 2012.
The capital city’s credit growth was thanks to the interest rate cut policy, which created favourable conditions for enterprises to access bank loans. However, Suong said that, credit growth still remained low and the lending interest rate in dong is still higher than the absorption capacity of enterprises and the economy and the bad debts ratio is on the rise.
In the coming time, according to Suong, banks should focus on solutions to create more favourable conditions for businesses in accessing credit but still have to ensure safe and efficient operation, restructure debts and reduce the debt payment pressure for each enterprise.
