(HBO) – Banks in the northern province of Hoa Binh for years have actively provided credits for economic development, especially to meet the capital needs for production and business of enterprises, cooperatives, and business households.

Agribank Hoa Binh branch.

The banking system in the province now includes the State Bank of Vietnam (SBV) provincial branch and branches of nine commercial banks - Agribank, BIDV, Vietinbank, VCB, VPBank, LienVietPostbank, MBbank, BacAbank, HDbank, and Social Policy Bank of Vietnam, plus a People's Credit Fund.

The province has 4,296 enterprises and 486 cooperatives. Most of the businesses in the province need loans to boost production and business.

The banking system has been implementing credit programmes and policies under the direction of the Government and the State Bank of Vietnam to create favourable conditions for businesses and people to access credit capital, invest in production and business development, create jobs, restore economic development, and ensure social security. 

As of January 31, 2023, the total locally mobilised capital of credit institutions reached 40.546 trillion VND (1.73 billion USD). Total outstanding loans to all economic sectors reached 34.22 trillion VND, of which loans worth 7.656 trillion VND were offered to 1,203 enterprises, accounting for 22.4% of the total outstanding loans. 

Loans for agriculture and rural areas reached 16.535 trillion VND, accounting for 48.3% of the total outstanding loans; those for 11 cooperatives reached 34 billion VND; and those for individuals and households for production and business nearly 24.5 trillion VND.

To support credit activities for businesses, over the recent years, the State Bank of Vietnam's branch has paid special attention to the programmes that connect banks and businesses in the province. 

Accordingly, the branch regularly signs coordination agreements with the units to exchange and provide information on monetary and credit policies. 

The central bank’s branch also cooperates with the provincial business association to promptly capture information and remove difficulties, and create favourable conditions in accessing bank loans.

According to Ngo Quang Loi, Deputy Director of the State Bank of Vietnam's provincial branch, up to now, the banking sector has organised 67 dialogue conferences and working sessions with businesses with a total loan commitment of 9.23 billion VND. 

Outstanding loans under signed programmes are over 6.55 trillion VND, and loan turnover (accumulated from the beginning of the year) is 7.655 trillion VND.

More than 1,270 customers received loans, including 1,203 businesses.

Banks and credit institutions in the province continue to implement measures to support borrowers and remove difficulties for customers under the direction of the Government and the State Bank of Vietnam./.


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