Agribank has supported direct lending interest rate reductions for over 1 million existing loans, total support amount is estimated at 700 billion VND. To have the conditions to reduce lending interest rates, Agribank has made 3 adjustments to reduce deposit interest rates, from there, 3 times to adjust to lower lending interest rates. Accordingly, short-term loan interest rates decrease by 0.5%-1% compared to the beginning of the year, medium and long-term loan interest rates decrease by 1-1.5% compared to the beginning of 2024.
On June 18, 2024, the State Bank issued Circular 06/2024/TT-NHNN extending the implementation time of the policy to restructure debt repayment terms, maintaining the same debt group to support customers facing difficulties until the end of the year. ends December 31, 2024. The entire Agribank system seriously implements the restructuring of debt repayment periods, maintaining the same debt group for customers in accordance with regulations to maximally support customers to overcome difficulties and have conditions to restore production and business.
In the context of the economy's limited capital absorption capacity, Agribank coordinates with ministries, departments and branches to proactively promote the implementation of accompanying solutions to overcome difficulties and support customers. Not only does it diversify products, reduce interest rates, and waive service fees to help reduce operating costs and improve competitiveness for businesses, Agribank also plays a role in providing real customer support. Currently digitally transforming, providing capital to improve and upgrade techniques and technology in farming and production, thereby improving the efficiency of capital use. From there, creating favorable conditions for people to develop their livelihoods, stabilize their lives and businesses to expand production, becoming a financial fulcrum for customers.
Currently, Agribank is proactively spending about 250,000 billion VND to deploy credit programs with preferential interest rates to many customers: large enterprises, small and medium-sized enterprises, medium and long-term investment projects. , import and export customers, customers investing in production and trading of OCOP products and individual customers borrowing capital to serve business and consumption activities... Of which, about 110,000 billion VND is for individual customers. Moreover, short-term preferential interest rates are only 3.5-4%/year to serve consumption and production and business; about 140,000 billion VND to provide capital to businesses and organizations in a variety of industries and fields of operation with preferential interest rates lower than 1.5-2.4%/year.
As of June 30, 2024, after 11 months of implementing the preferential credit program for the forestry and aquatic products sector, Agribank has granted credit of VND 7,183 billion with about 5,000 disbursements to customers, focusing on into aquaculture exploitation activities; purchasing and consuming seafood; processing and preserving forest products... In addition, Agribank provides preferential credit to project investors and buyers of social housing, worker housing, and apartment renovation and reconstruction projects. old according to Resolution 33/NQ-CP of the Government. By the end of the second quarter of 2024, Agribank has approved 11 social housing projects with a total approved amount of 3,023 billion VND, outstanding debt as of June 30, 2024 is 657 billion VND, continuing to be the leading bank. on disbursed revenue of the program. In addition, Agribank is approaching 13 social housing projects with a total investment of 5,000 billion VND.
As a pioneering bank, taking the lead in implementing the Party and Government's policies, Agribank commits to readying credit capital and preferential interest rates to support people and businesses, accompanying Customers remove obstacles and clear capital flows to create momentum for the economy in the last 6 months of 2024.
