Banking industry: Ensuring loan capital, supporting economic development

– Right from the beginning of 2022, banks in the province have come up with many solutions to boost capital mobilization, make efforts to disburse loans, and promote credit growth. Thereby, ensuring people have capital for economic development, especially in the current complicated situation of the COVID-19 pandemic.

At the Bank for Agriculture and Rural Development of Vietnam Lang Son Branch (Agribank Lang Son), counter transactions in the early days of 2022 are always exciting. According to Mr. Trinh Xuan Doan, Director of Agribank Lang Son, in order to ensure loans to support people’s economic development, right from the beginning of the year, the branch has implemented many solutions to mobilize capital. Accordingly, the unit has closely directed the type 2 branches to actively approach and work with the compensation and site clearance boards in the districts to enlist the money for compensation; regularly classified customers to improve the quality of reasonable customer care service; strengthened the promotion of deposit products on media. Along with that, the unit diversified products, services and utilities based on modern technology to attract customers.

Customers make transactions at Joint Stock Commercial Bank for Investment and Development of Vietnam, Lang Son Branch

Thanks to the effective implementation of solutions, loan sales in the first 2 months of 2022 of the branch reached 2,497 billion VND, bringing the total outstanding balance of the branch to 11,220 billion VND, an increase of 48 billion VND compared to December 31, 2021, of which, outstanding loans for agriculture and rural areas are 6,956 billion VND, accounting for 62% of total outstanding loans.Total mobilized capital reached 11,887 billion VND, an increase of 153 billion VND compared to December 31, 2021.

Similarly, the Bank for Social Policies (VBSP) Provincial Branch has implemented timely solutions to meet the borrowing needs of poor households and other policy beneficiaries in the province. Up to now, the total mobilized capital at the bank has reached 536 billion VND, an increase of 18.5 billion VND compared to December 31, 2021. Loan sales in the first 2 months of 2022 reached 154 billion VND, with 2,983 households receiving loans.

Mr. Pham Manh Ha, Deputy Director of VBSP Provincial Branch said: As soon as we received capital from the central government, the branch advised the head of the Representative Board of the Provincial VBSP in writing to direct the departments, sectors, branches in districts and cities to organize the propagation of capital programs. In order to effectively implement capital mobilization, the branch develop specific plans and targets and assign them to transaction offices of districts and cities.

Together with the above two banks, currently, banks in the province are actively implementing solutions to proactively source capital for production and business activities. Specifically, most banks actively raised deposit interest rates slightly from 0.3 to 0.5% per year over the same period last year to attract customers; assigning credit officers to approach customers with large sources of money; Transaction staff support to create maximum convenience in disbursement procedures for customers.

Thereby, the capital source has promptly met the needs of people and businesses in economic development and expansion of production and business. According to data from the State Bank of Vietnam (SBV) provincial branch, up to now, the total mobilized capital is 33,900 billion VND, an increase of 1.35% compared to December 31, 2021. Total credit balance is 37,759 billion VND, up 0.58% compared to December 31, 2021.

Mr. Phung Van Vy, Chua village, Yen Thinh commune, Huu Lung district shared: “Recently, the complicated development of COVID-19 pandemic has significantly affected production and business activities as well as my family’s income. During the difficult time of capital, in January 2022, my family was advised by Agribank staff in Huu Lung district to apply for a loan of 500 million VND with a preferential interest rate to invest in planting and taking care of 2 hectares of fruit. The timely disbursed capital has helped my family have funds to restore production, assured for economic development.

With the efforts of banks, believe that, the banking industry will continue to do well in supporting people and businesses with capital for production and business, creating jobs, increasing income and stabilizing life after the pandemic, promoting socio-economic development.

In the coming time, following the direction of the Government, the State Bank of Vietnam and the Provincial People’s Committee, the branch will continue to direct banks in the area to implement effective credit growth solutions coupled with quality control. credit, focusing credit on production and business fields, priority areas. In addition, the branch will direct bank branches and credit institutions to well implement regulations on interest rates, management and trading in gold and foreign exchange, monetary activities of vaults, etc., to ensure safe and effective banking operations in the locality, contributing to the province’s socio-economic development. Ms. Truong Thu Hoa, Director of the State Bank of Vietnam’s – Lang Son provincial branch