Through credit packages with preferential interest rates, and products and services customised to each customer group’s needs, banks focus on helping enterprises access capital to restore production and business.

In May the Government issued Decree 31/2022/ND-CP on interest rate subsidies for loans given to enterprises, co-operatives and business households.

The 2 per cent subsidy offered under the decree and the State Bank of Vietnam’s Circular 03/2022/TT-NHNN is one of the most anticipated policies this year.

HDBank was one of the first banks to deploy the Government’s 2 per cent interest rate subsidy programme worth VND40 trillion (US$1.69 billion).

As soon as it received instructions from the central bank, HDBank promptly issued internal regulations, organised system-wide training courses, including for staff working in transaction points across the country, and actively approached customers and helped them complete the necessary procedures to get the subsidy.

HDBank has managed to ensure the support package is provided to the right people, safely, openly, transparently, and in accordance with regulations. In addition, it has earmarked funds to provide loans to efficient projects and production and business plans, especially sectors eligible for interest rate subsidies under the Government’s Decree 31/2022/ND-CP.

There is close coordination between the bank and the SBV and relevant ministries and sectors in the implementation of the programme to improve its effectiveness.

HDBank's hotline 19006060 functions 24/7 to listen to customers' problems in the process of accessing the subsidy, and provide information to enable them to correctly understand the requisite conditions and stipulations.

The bank meanwhile continues to provide credit and other products and services to customers in line with its business strategy and growth targets.

It is also taking a number of measures to support other groups of customers and mitigate their difficulties.

For instance, it is disbursing a VND10 trillion ($423.48 million) loan package for workers at half the market interest rate through its finance company HD SAISON.

Directed by the SBV and implemented by HDBank and HD SAISON in collaboration with the Vietnam General Confederation of Labour, the programme is expected to help workers and people living in remote areas access formal consumer finance to improve their living standards, and not get into the clutches of loan sharks.

In its development process, HDBank always focuses on credit growth associated with good control of credit quality.

HDBank is among the lenders to have received a credit limit extension from the SBV.

This is a favourable condition for HDBank to further lend to customers who are eligible for interest rate subsidies, thus contributing to implementing the Government and the SBV’s policies effectively and promoting the programme for socio-economic recovery and development in 2022-23. — VNS