Banks simultaneously applied for a "room" of credit

DNHN - Representatives of banks simultaneously suggested to the State Bank that the credit growth target be relaxed.

The State Bank of Vietnam recently held a meeting with commercial banks and all locations via an online form to fully comprehend and organize the implementation of this interest rate support scheme.

Notably, at the mentioned conference, all banks expressed that they had fully prepared resources and enthusiastically supported the policy's execution. Nonetheless, bank representatives simultaneously proposed that the State Bank consider relaxing the credit growth target.

Mr Nguyen Viet Cuong, Deputy General Director of Vietcombank, stated that based on the scale of outstanding loans as of May 2022, which exceeds 1 trillion VND, the number of beneficiaries of the interest rate support package is estimated to account for approximately 30 per cent of outstanding loans, with over 30,000 customers.

Simultaneously, a Vietcombank spokesperson stated that after the "growth drought" caused by the impact of the virus, the demand for capital grew. Until now, credit growth has reached 9 per cent; so, Vietcombank has urged that the State Bank consider increasing the proper "credit space" so that banks can work together to boost growth.

Similarly, Mr Tran Phuong, Deputy General Director of BIDV, stated that through a preliminary review, the bank discovered that approximately 10,000 customers initially met the requirements for interest rate support, and this number will continue to rise throughout the remainder of this year and the following.

"From the fourth quarter of 2021 to the present, the demand for loans from consumers, particularly good clients, has surged dramatically. In the meantime, 10% credit room cannot be met. We expect that the State Bank would allow BIDV and large credit institutions access to credit to effectively support interest rates "Phuong stated.

According to Mr Le Duy Hai, Deputy General Director of Vietinbank, the bank has preliminarily calculated the credit level required to implement the program, is in the process of constructing the necessary infrastructure and is scheduled to issue documents guiding the implementation of the program next week. the group. Simultaneously, the implementation of this interest rate support program is being tested.

"It is anticipated that the outstanding balance of the 2% interest rate support package granted to Vietinbank accounts for 30% of the bank's overall credit size. Improve bank performance necessitates assistance from the State Bank to raise credit limits "said Mr Hai.

PV