Commercial and service debt of banks accounts for a large proportion

Outstanding loans in the trade and service sector of credit institutions in Ha Tinh currently account for nearly 64% of total outstanding loans in the whole area.

Recently, the State Bank of Vietnam (SBV) Ha Tinh Branch has regularly directed credit institutions (CIs) in the area to direct credit to production and business sectors, priority sectors and economic growth drivers according to the Government's policy.

In particular, Ha Tinh Banking sector proactively implemented solutions to prioritize capital sources for potential sectors such as trade and services such as: creating favorable conditions for customers to access credit capital; simplifying lending procedures, publicly and transparently listing loan procedures and processes; ensuring safe and effective credit activities...

Customers come to make transactions at BIDV Nam Ha Tinh.

According to data from the State Bank of Vietnam, Ha Tinh Branch, outstanding loans in the trade and service sector of credit institutions in the area currently reach VND 61,149 billion, up 1.84% compared to the end of 2023 and accounting for 63.73% of the total outstanding loans in the province. In addition to the "big guys": Agribank, BIDV, VietinBank and Vietcombank, the joint stock commercial bank sector has also increased lending in this sector, thereby contributing to promoting economic growth.

In the coming time, commercial banks in the area will continue to monitor and listen to the opinions of the business community, cooperatives, and individual business households operating in this field to promptly grasp difficulties. From there, there will be solutions to accompany and support in a timely manner, creating conditions for customers to access loans, and effectively and safely increase credit growth.

Commercial and service debt of banks accounts for a large proportion

Outstanding loans in the trade and service sector of credit institutions in Ha Tinh currently account for nearly 64% of total outstanding loans in the whole area.

By strictly complying with the regulations on interest rate management of the Governor of the State Bank of Vietnam, credit institutions in the area compete healthily and do not exceed the ceiling.

Specifically: Short-term VND loan interest rates are commonly from 5.4 - 9%/year, medium and long-term loans are commonly from 6.9 - 10.5%/year.

Short-term USD loan interest rates are commonly between 3-4.5%/year; medium and long-term interest rates are commonly between 4-6.1%/year.

Thao Hien

Source