5:23:33 PM | 2/9/2014
With rate reduction policies combined with interest rate preference programmes and prudent credit policies, the Dong Thap Branch of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) is showing its strong efforts and commitments to support businesses with capital demand to get through difficulties and sustain operations.
In 2013, despite the complicated global and domestic economic situation, Vietcombank Dong Thap maintained stable operations and achieve positive results. Deposits grew 19 per cent over 2012, credit growth was 36 per cent and bad debt ratio was less than 1 per cent. Export and import payments surged 36 per cent over 2012, while retail banking products exceeded assigned objectives.
Nguyen Tan Tao, Director of Vietcombank Dong Thap, said, to practically help businesses deal with difficulties, the branch reduced rates to less than 15 per cent per annum, of which loans bearing an interest rate of 7-10 per cent account for about 50 per cent. The branch’s priorities are to support agriculture, SMEs, households and individuals. Accordingly, the branch allocated more than a half of total loans for enterprises to purchase food crops for processing, aquaculture, aquatic processing, agriculture and rural development.
As many companies are suffering operating losses, many banks tend to intensify capital recollection to minimise risks. However, with the goal of supporting businesses to overcome hardships, Vietcombank Dong Thap reviewed borrowers’ operations to have proper credit support. He said the branch will consider extending loan repayment terms, lower interest rates and assign experts to support businesses to deal with difficulties.
As for companies investing in Dong Thap province, the branch always stand ready to lend them capital to invest in infrastructure, equipment and technology for stable business operations. This helps Dong Nai province attract more investors.
To stand firm in the current fierce competition, service quality is regarded as the deciding factor in the branch’s reputation and market share. Therefore, not only applying appropriate incentives to better serve customers, Vietcombank Dong Thap also takes advantage of technology to diversify flexible products and professionalise customer care services. Hence, the position of the bank has been confirmed by the confidence of consumers and businesses. This is the driving force for the branch to pursue better operations in the coming time.
In addition to its primary financial and monetary businesses, Vietcombank Dong Thap always carries out social security policies. Every year, it donates hundreds of millions of Vietnamese dong to this activity. In 2013, Vietcombank financed VND10 billion to build the An Dong Secondary School in An Dong commune, Lap Vo district and Ngo Thi Nham Primary School in Hoa An commune, Cao Lanh City. Besides, it also helped many localities to build roads, bridges and charity houses, fund education promotion programmes, and grant scholarships to poor students with good study records. With its practical activities, the branch is named the exemplary business of Dong Thap province.