Banking industry strives to finish the plan

Update: 30-11-2020 | 11:50:41

In order to achieve the target of 14% credit growth in 2020, credit institutions in the province have implemented many effective solutions, strive to complete the plan.

The banking system strives to reach outstanding loans of 12-14% this year. In photo: Customers do transactions at SHB - Binh Duong branch.

A misty picture

Over the first 10 months of 2020, despite difficulties caused by the Covid-19, many banks have completed over 90% of the annual plan, some banks have even exceeded targets. At HDBank - Binh Duong branch, during 10 months, operational targets of this year have been very good. Lai Thi Bich Thuy, Deputy Director of HDBank Binh Duong, said that total deposit reached VND 2,755 billion, up 26% compared to 2019, total loan reached VND 6,640 billion, exceeding 105% target 2020.

Saigon Hanoi Bank (SHB) - Binh Duong branch has basic targets exceeding the year plan, such as profit before tax, deposits and loans. The above good results were gained by accelerating access to individual customers, control revenue investment cost in technology, operation stages, reduce costs. Lam Phuc Hung, Director of SHB Binh Duong, said that SHB system has intensified customer support with interest rate support packages, especially for small and medium-sized enterprises.

In addition, there is also a special loan program for individual customers. Mr. Lam forecasts that by the end of year, the economy would better recover, the demand for business and consumer loans would increase sharply again, then the increase in lending sales will would exceed the result in 2019.

According to State Bank Binh Duong, in general, many units of credit institution system in the province has completing the full-year plan as credit growth rate reached over 90% of the expected target for the whole year. However, there are still banks that grew slowly, even are at a negative level compared to target. Vo Dinh Phong, Director of State Bank Binh Duong, said that the regulator is now recording business results of commercial banks with different increases and decreases. In fact, this year, there are some banks that set fairly modest growth rate for the whole year compared to the previous year, there are also banks that had to adjust their business plans. Since then, the overall results of Binh Duong banking sector have not grown as expected.

To stay optimistic

In fact, from beginning of 2020, there are quite many cautious banks as setting up low growth target or accepting negative growth, because it is impossible to anticipate negative effects of Covid-19. Many banks said that due to the impact of epidemic, credit revenues increased weakly, thus banks aimed to increase revenues from non-credit activities and cut operating costs but still could not meet growth targets.

Tran Ngoc Linh, Director of BIDV Binh Duong, said that the bank's deposits and loans over the first 10 months grew slowly compared to 2019. The bank even had to lower targets across some sectors.

Although it is difficult time, several commercial banks have gained good business results this year. In fact, Viet Nam is in good control of Covid-19, many businesses are gradually recovering, which means credit will also prosper. In addition, at this time, many banks are lowering deposit interest rate to at the same time lower lending rates, in order to stimulate credit growth in last months of the year.

In addition, banks also continue to monitor production and business activities of customers, regularly keep in touch with businesses to be able to timely support customers. "With practical solutions, it is expected that debt level could reach 12-14% compared to 2019, complete growth targets, contributing to increasing socio-economic development targets of the province," said Vo Dinh Phong.

Reported by Thanh Hong - Translated by Ngoc Huynh

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Banking industry strives to finish the plan

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