Conference seeks to promote measures in support of enterprises

Thursday, 2020-05-14 16:51:05
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SBV Deputy Governor Dao Minh Tu speaking at the conference.
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NDO – The State Bank of Vietnam (SBV) in coordination with the Hanoi People’s Committee held a conference in Hanoi on May 14 to connect banks with enterprises in a bid to support those affected by the COVID-19 pandemic.

SBV Deputy Governor Dao Minh Tu said that the banking sector has implemented urgent solutions to ease various difficulties for production and business activities caused by the pandemic.

After two months, credit institutions have rescheduled debt payment deadlines for more than 215,000 customers with total outstanding loans of VND130 trillion (US$5.54 billion) and lowered and exempted interest rates for 260,000 customers with total outstanding loans of VND1,080 trillion.

Credit institutions have also lowered lending interest rates by 0.5-2.5% for 182,000 customers since January 23.

At the conference, enterprises expressed their appreciation for the efforts by the banking sector but also added they have found it difficult to access support packages due to the complicated procedures involved. Despite lower interest rates, enterprises said that they remain too high for enterprises in such a tough time.

Nguyen Quoc Hung, Director General of the SBV’sCredit Department said that the banking system does not lack capital and enterprises will be provided with loans as long as their business proves its effectiveness.

SBV Deputy Governor Dao Minh Tu also urged the entire banking system to pay more attention to implementing measures in support of customers while reporting difficulties to the SBV in a timely fashion in order to devise appropriate policies.