Bank credit sources: Boosting economic growth
Since the beginning of the year, under the impact of the Covid-19 epidemic, the province's manufacturing industries have gradually recovered and grown again.
Contributing to that positive result must be mentioned the important role of the banking industry in timely providing capital for businesses, production households and individuals to borrow capital to maintain and develop production and business.
An officer of the Bank for Agriculture and Rural Development, Thai Binh province branch, checks the efficiency of loan use in the household of Mr. Pham Dinh Chieu (Vu Doai commune, Vu Thu district).
By the end of March 2021, the total outstanding loans of credit institutions (CIs) in the province were estimated at 65,730 billion VND, increasing by 0.7% compared to December 31, 2020; of which loans to agriculture, forestry and fishery accounted for 20.2%, loans to industry and construction accounted for 32% and loans to trade and services accounted for 47.8% of total outstanding loans.
Tran Minh Hac, Deputy Director of the State Bank of Vietnam's provincial branch, said: One of the important solutions to promote credit growth in the context of the complicated developments of the Covid-19 epidemic is from the beginning. Until now, credit institutions in the province have continued to implement solutions to remove difficulties and encourage customers to maintain stability and develop production. By the end of February 2021, the whole banking industry has restructured the repayment term and kept the same debt group for 351 customers with the outstanding balance being restructured the repayment term and maintaining the same debt group of 316 billion dong; exempt or reduce loan interest for 840 customers with loan balance exempted or reduced by 159 billion dong, supported interest 347 million dong; at the same time, lending to 9,023 new customers with preferential interest rates lower than the popular rate of 0.5 - 2.5%/year compared to before the Covid-19 epidemic with a loan turnover of more than VND 29,700 billion. Taking the lead in implementing solutions to support customers facing difficulties due to the Covid-19 epidemic, banks such as Vietnam Prosperity Joint Stock Commercial Bank (JSC) - Thai Binh Branch (restructuring) debt repayment period, maintaining the same debt group and exempting and reducing loan interest for 255 customers with outstanding loan balance of VND 86 billion; new loans to 506 customers with loan turnover of more than VND 410 billion), Commercial Joint Stock Bank for Investment and Development of Vietnam - Thai Binh Branch (restructuring the repayment term, maintaining the same debt group and exempting and reducing loan interest for 6 customers with a loan balance of nearly VND 58 billion), Joint Stock Commercial Bank for Industry and Trade of Vietnam - Thai Binh Branch (restructuring the repayment term, keeping the debt group unchanged and exempting and reducing loan interest for 6 customers with outstanding loans of nearly 19 billion VND; lending to 68 new customers with a loan turnover of more than 9,509 billion VND), the Bank Joint Stock Commercial Bank for Foreign Trade of Vietnam - Thai Binh Branch (restructuring the repayment term, keeping the debt group unchanged, and exempting and reducing loan interest for 2 customers with outstanding balance of VND 21 billion; there are 2,471 customers of new loans with loan sales of 9,291 billion VND)…
Not only caring and sharing difficulties for customers, over the past time, the banking industry has also focused on credit investment along with strengthening credit quality management, prioritizing loans for important economic programs of the province, in which special attention is paid to agricultural and rural development loans according to Decree No. 55 of the Government. By the end of March 2021, credit institutions are lending more than 115,000 customers loans for agricultural and rural development with an estimated loan balance of VND 25,100 billion, increasing by 1% compared to December 31, 2020, accounting for 38 .2% of total loan balance.
Ms. Nguyen Thi Minh Thu, Director of Vietnam Bank for Agriculture and Rural Development North Thai Binh, Quynh Phu District Branch (Quynh Phu Agribank), said: As a bank of agriculture and rural areas, over the past time, Quynh Phu Agribank always focuses investment capital for restructuring crops and livestock, building large fields, developing livestock in the district... In 2020, in the context of many difficulties, especially the impact of Despite the Covid-19 epidemic, Quynh Phu Agribank still maintained stable and developed operations. As of December 31, 2020, the total mobilized capital reached VND 4,551 billion, increasing by 22.5% compared to December 31, 2019, reaching 102% of the assigned plan; total outstanding loans to the economy reached VND 2,190 billion with 8,410 borrowers, increasing by 16.6% compared to December 31, 2019, reaching 105.8% of the assigned plan, of which outstanding loans for group loans reached 585 billion dong, accounting for 26.7% of total outstanding loans.
In 2021, the banking industry sets a target that loan balance will increase by at least 10% compared to 2020. Therefore, in the coming time, the banking industry will continue to implement safe and effective credit growth solutions; strictly control credit to ensure revolving loan capital; proactively cut operating costs, implement solutions to help solve difficulties for customers; thereby continuing to affirm the key role of the economy as well as actively supporting the province's economic development.