According to the report of the Social Policy Bank, the State Bank of Vietnam, provincial branches and credit institutions in the province, by the end of September 26, 2024, 17,553 customers in Quang Ninh were affected by storm No. 3, with a total outstanding debt of VND 46,425 billion, and a damaged debt of VND 10,456 billion. To support people and businesses to overcome the difficulties caused by storm No. 3, Quang Ninh province has had many support solutions and requested the banking sector to implement preferential credit policies for this group of customers.

As of September 30, 2024, mobilized credit capital in Quang Ninh province reached VND 215,000 billion, an increase of 4.5% compared to December 31, 2023. Outstanding credit capital as of September 30, 2024 is expected to reach VND 192,000 billion, an increase of 8.4% compared to December 31, 2023, of which: Outstanding loans to the state economic sector reached VND 22,815 billion, accounting for 12%; outstanding loans to the non-state economic sector reached VND 167,313 billion, accounting for 76.8% of total outstanding loans, an increase of 7.4% compared to December 31, 2023; outstanding loans for living and consumption services reached VND 43,589 billion, an increase of 1.9% compared to December 31, 2023. In general, the credit growth in the first 9 months has met the scenario, in which the disbursed capital is mainly for production and business (over 76%), contributing to the growth of the province.

To achieve this result, the State Bank of Vietnam, Quang Ninh Branch, has directed banks to actively implement solutions to support business development, administrative reform and enhance access to capital for people and businesses. At the same time, the unit has proactively grasped, responded to and promptly handled opinions and recommendations from businesses and people in credit relations and the use of banking services, promoted the implementation of the bank-business connection program, promptly removed difficulties and created favorable conditions for people and businesses to access credit. In the past 9 months, the State Bank of Vietnam, Quang Ninh Branch and credit institutions in the area have participated in 5 conferences to meet with businesses, cooperatives and business households, disbursed loans with an amount of VND 1,905 billion/153 customers; reduced interest rates and fees by VND 10,550 million/122 customers.

In particular, immediately after Quang Ninh was severely affected by storm No. 3, the State Bank of Vietnam, Quang Ninh Branch, issued a document directing credit institutions in the area to quickly overcome difficulties, stabilize banking operations, and proactively review and summarize the losses of customers who are borrowing capital to promptly apply support measures and remove difficulties, such as: Restructuring debt repayment terms, considering interest exemption and reduction, continuing to provide new loans to restore production and business; handling debts, handling risks according to current regulations for customers who suffered heavy losses and lost their ability to pay according to current regulations... From there, there are plans to restructure debts, extend debts, reduce interest rates..., deploy new credit packages with reasonable interest rates and reasonable scale to help people and businesses to resume production and business, and recover after the storm.

In addition, the State Bank of Vietnam, Quang Ninh branch, has also strengthened the inspection and supervision of banking activities, while improving the effectiveness of macro and micro safety supervision and early warning to prevent and limit risks in the operations of credit institutions. Banks have also strengthened internal inspection and control to review, overcome and promptly correct existing problems and violations to ensure compliance with the law and system safety.

In order to promote the role of credit activities in implementing solutions to overcome difficulties, support recovery and socio-economic development in the area, Quang Ninh province also requested the State Bank of Vietnam to study and propose to competent authorities a number of contents. In particular, it is proposed to increase the level of loans without collateral according to the provisions of Article 9, Decree No. 55/2015/ND-CP dated June 9, 2015 of the Government on credit policies for agricultural and rural development (amended and supplemented in Decree No. 116/2018/ND-CP dated September 7, 2018). The province also proposed to issue policies on debt classification, provisioning and using provisions to handle risks for debts of customers facing difficulties and losses due to the impact of storm No. 3 to create a legal basis and encourage credit institutions to boldly lend and support customers to restore production and business, especially those who no longer have assets to mortgage loans. At the same time, add customers who borrow capital from credit institutions to invest, produce and do business in all sectors, fields of trade and services (including customers operating service ships, tourism on Ha Long Bay)... who suffered heavy losses after storm No. 3 to enjoy debt suspension policies similar to those for the agricultural and rural sectors with a debt suspension period of about 2 years and the province will balance resources to handle interest according to the regulations of the policy issued by the Central Government.

In addition, Quang Ninh province also requested the State Bank to direct credit institutions to provide new loans for customers to restore and develop production and business; at the same time, there is a mechanism for unsecured loans, loans without collateral, and a separate mechanism for handling risks to create a legal corridor and encourage credit institutions to implement and support people, businesses, and cooperatives. Along with that, there is a policy of additional loans to restore production and business development for customers with outstanding loans at the Social Policy Bank who were damaged by storm No. 3 and floods, confirmed by competent authorities, and who need to borrow capital to restore production and business development: The maximum additional loan amount does not exceed 100 million VND/customer and does not require collateral.

According to the report of the Social Policy Bank, the State Bank of Vietnam, provincial branches and credit institutions in the province, by the end of September 26, 2024, 17,553 customers in Quang Ninh were affected by storm No. 3, with a total outstanding debt of VND 46,425 billion, and a damaged debt of VND 10,456 billion. Specifically, at the Provincial Social Policy Bank, 12,709 customers were affected by losses related to loans of VND 741.2 billion, with a total damaged debt of VND 424 billion; at the remaining credit institutions, there were 6,265 customers, with a total damaged debt of VND 10,032 billion. Of which: Agriculture, forestry and fishery sector: 1,511 customers, outstanding debt of VND 1,131 billion; Trade and service sector: 3,482 customers, outstanding debt of 4,176.5 billion VND; industry - construction sector: 1,272 customers; outstanding debt of 4,274.5 billion VND.