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State Bank Deputy Governor Dao Minh Tu stated that this year’s New Year, the bank will continue to not print small denominations like previous years – Photo: L. THANH
That was the statement of the Deputy Governor of the State Bank, Dao Minh Tu, at the press conference on the implementation of the tasks of the banking sector in 2021, on the morning of December 24.
Mr. Tu said that in recent years, the new print switch restriction helped the budget save 3.5 billion VND. Therefore, this year, the State Bank still drastically refused to print money with small denominations. In his opinion, the fact that people go to temples and spiritual events should not be a question of money.
Regarding the results achieved this year by the banking industry, Information from Lieutenant Governor Dao Minh Tu that inflation is definitely below 4%. The currency, gold and interest rate markets are stable. Especially, the operating interest rate of Banco del Estado was reduced 3 times with a total level of 1.5-2% / year, creating conditions for commercial banks to lower lending interest rates by 1-1.5%, depending on each sector . sector compared to the beginning of the year.
In response to the press on whether interest rates on loans can be lowered further, Mr. Tu said that the management of interest rates depends on real market conditions, the bank will continue to manage interest rates of stable way. at the right level. The loans are focused on priority areas such as small and medium enterprises, export …
Tu added that low interest rates are maintained if the economy is stable, avoiding the COVID-19 pandemic and controlling inflation to a reasonable level.
Regarding credit growth, credit growth is lower than in previous years. As of December 21, credit increased 10.14% compared to the end of 2019, 11.62% more than in the same period last year.
“The estimated credit for the whole year increased by 11%. Credit increased strongly in the productive and commercial sectors such as agricultural and rural loans by 9.7%; small and medium-sized business loans increased 11% … compared to the end of 2019. In 2021, Banco del Estado aims to increase credit by approximately 12%, “said Tu.
To support borrowers, so far, lenders have restructured payment terms for approximately 270,000 clients affected by the pandemic with outstanding loans of nearly VND 355,000 billion; interest exemption and reduction for almost 590,000 clients with an outstanding debt of more than 1 million trillion.
Credit institutions have made new loans with preferential interest rates between 0.5% and 2.5% lower than before the translation. New loan sales reached 2.3 trillion VND for more than 390,000 clients.
Regarding the implementation of a credit support package of 16,000 million VND to companies to pay the salaries of employees who temporarily lost their jobs at an interest rate of 0% / year, until now, the State Bank has timely disbursed to the Bank. Vietnamese social policy. As of December 21, the loan amount of this credit package is VND 30 billion for businesses in 49 provinces and cities.
