Aside from advance insurance money, assistance on legal procedures of functional agencies, Binh Duong-based commercial banks have continued to work with enterprises suffering heavy losses in the past May extremist acts to help them, according to the sector’s common instruction.

  Agribank Song Than branch’s directorate pays a visit to Vuong Tue Co.Ltd.

 

The Taiwanese-invested Vuong Tue Co.Ltd. in Nam Tan Uyen Industrial Park, Tan Uyen town is one of clients of Agribank Song Than branch. In the past May incident, the company suffered a fairly heavy loss. However, thanks to timely assistance on capital source from the bank, the company rapidly set up a new office and created many new material sources in service for production.

 

Jason Chen, director of the company said that the company has yet to implement all signed export contracts, owing to shortage of capital. “We enjoy concrete helping from Agribank Song Than branch through old lending loans’ rate reduction, new preferential loans. Besides, the bank grants laptop, printer, fax machine and so on to us. Now, we enjoy many new orders and our 200 workers must work constantly. Even, we expect to add the 3rd shift to meet clients’ orders”, Jason Chen shared.

 

Over the past month, Agribank Song Than branch’s directorate set out detailed supports according to Agribank network and the State Bank’s instruction. Agribank Song Than branch vice director Vuong Thi Lan Huong said that as many as 32 enterprises affected by recent disturbances have the total outstanding loan of about VND750bil. We actively reconsider the outstanding loan for 4 businesses. In addition, we reduce lending interest rates with the total money of VND936mil. Of this, new loans’ interest rate is cut 0.5%-2%/year within time of 3-6 months for 12 enterprises. As for old loans, we cut 1-2%/year in interest rate within 3-6 months. At present, Agribank Song Than branch increases loan level of additional US$15mil to meet lost enterprises’ demand on capital.

 

In addition, Agribank Song Than branch is the first bank helping 22 enterprises suffering fires, asset loss overcome the past incident by free offering of office equipment such as 25 computers, 15 printers, 3 money counters and among others with the total value of nearly VND500mil.

 

Similarly, other banks such as BIDV Binh Duong branch, Shinhan Vietnam, Indovina and etc try their best to support maximum the disturbance-affected enterprises.

 

According to the State Bank’s Binh Duong branch director Bui Van Nu, after the May incident the bank’s operation remains unchanged. Over the last month, the branch held 4 meetings with local credit organizations to map out safe measures for operation and simultaneously build support measures to help enterprises overcome losses. Particularly, after the visit of the State Bank of Vietnam’s vice governor to credit organizations, especially foreign credit ones, the State Bank’s Binh Duong branch and credit organizations strengthened assistance for the affected enterprises through establishing working teams.

 

According to the State Bank’s Binh Duong branch, the provincial banking system pledges to stabilize credit level signed in the past. Moreover, credit organizations assist clients to recover legal dossiers rapidly and conveniently.

 

“In the coming time, the State Bank’s Binh Duong branch will steer credit organizations to strengthen meetings with the affected enterprises in a bid to help them solve difficulties. All will be implemented synchronously and enthusiastically”, Bui Van Nu said.

 

Reported by T.Hong – Translated by A.C