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State Bank Deputy Governor Dao Minh Tu stated that this year’s New Year, the bank will still 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 new money with small denominations. According to his point of view, the fact that people go to temples, 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 reduce lending interest rates by 1-1.5% depending on the sector. compared to the beginning of the year.
Responding to the press on whether interest rates on loans can be lowered further, Mr. Tu said that interest rate management depends on actual market conditions. The Bank will continue to manage interest rates in a stable manner at an appropriate 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.
“Estimated credit for the whole year increased by 11%. Credit increased sharply in productive and commercial fields such as agricultural and rural loans by 9.7%; loans for small and medium-sized enterprises increased by 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, credit institutions have restructured the payment terms of some 270,000 clients affected by the pandemic with outstanding loans of almost 355 billion dong; exemption and reduction of interest for about 590 thousand clients with outstanding debt exceeding 1 million trillion.
Credit institutions have made new loans with preferential interest rates between 0.5% and 2.5% lower than before the translation. Sales of new loans reached 2.3 trillion VND for more than 390 thousand clients.
Regarding the implementation of the 16,000 million VND credit support package for companies to pay the salaries of employees who temporarily lost their jobs at an interest rate of 0% / year, so far, the State Bank has timely disbursed to the Bank. Vietnamese social policy goods. As of December 21, the loan amount of this credit package is VND 30 billion for businesses in 49 provinces and cities.
