[NEWS] - Lower interest rates, easy access for businesses?

In the challenging context of the entire economy, the State Bank’s flexible management of interest rates, close following market developments, and the domestic and foreign economic situation over the past time have created an excellent motivation for the Banks to overcome difficulties. At the same time, demonstrates the policy of accompanying businesses to quickly recover from the negative impacts of the COVID-19 pandemic.

According to Mr. Vu Dang Vinh, General Director of Vietnam Report Joint Stock Company (Vietnam Report), synthesizing opinions from many commercial banks through surveys and assessments conducted by Vietnam Report in June 2023 shows that banks expect that through the cooling down of lending interest rates along with policies to support businesses, remove bottlenecks in the real estate and bond markets, cost pressures deposits of banks will decrease, credit demand may increase again. Since then, the business results of banks will be better in the coming time.

Feedback from businesses about the penetration of policies into real life, said Ms. Nguyen Thi Ngoc Thanh, CEO of AAA Market Research One Member Limited Liability Company, Access to valuable credit cheap from the bank is very difficult now. Currently, many businesses have to narrow down their production and business, pay land, and streamline their personnel apparatus to reduce costs. The failure to maintain the growth momentum means that the bank’s loan limit is also affected, and many banks even tighten credit conditions because of concerns about bad debt.

In theory, lower interest rates mean that lending activities will be boosted more strongly. New difficult businesses need the support of bank credit, but banks also have to look at the debt recovery ability and the feasibility of loan projects in the general gloomy context of the whole economy. Ms. Thanh shared, that some businesses mortgage 5 billion dong with assets worth 17 billion dong and accept interest rates higher than actual about 14% / year, but they are not approved for loan documents for many reasons. issued by the bank. Mortgage loans are still difficult and try to ask for unsecured loans.

Ms. Dao Thi Oanh, Director of Quy Nhan Investment Service Trading Co., Ltd. said that after 3 years of the COVID-19 pandemic, the majority of businesses are lucky to survive, if the case is profitable, it is only a few. . Although the decision to reduce lending interest rates is like "cooling off" the summer thirst for businesses, it is usually suitable for units with good financial statements and profitable businesses. In addition, priority is also given to some specific fields and industries such as agriculture. Therefore, it cannot be equated that it is difficult for all enterprises to access monetary and banking policies.

In particular, some units make 2 report books. Internal profits are dizzy, while corporate financial statements are also dizzying, so when "carrying" a loan, any bank refuses. Thereby showing that for businesses that do genuine business, the future will be wide open and benefit substantially from what they do, Ms. Oanh said.

As an active enterprise in the global business connection community, Mr. Tran Cong Thanh, General Director of ViBest Technology and Communication Joint Stock Company highly appreciated the Government’s efforts to flexibly manage monetary policy Government and the State Bank of Vietnam, with 3 consecutive reductions in lending interest rates in less than 3 months, brought a lot of positive effects to the economy and the business community.

The credit demand of the economy is low when researchers forecast that commercial production activities of the business community will still face many difficulties. Although deposit interest rates in the banking system in recent months have rapidly cooled down with a decrease depending on the terms and adjustment levels of banks, it requires a certain delay for the policy to accumulate. This pole quickly permeates the lives of many businesses.

The reduction in lending interest rates compared to deposit rates is a positive move and should be maintained. This can lead to an expectation that enterprises’ ability to access capital will quickly improve, especially in the last months of the year. It is hoped that, along with drastic measures from fiscal policy such as tax reduction, salary increase, and actively removing difficulties in disbursing public investment capital as well as the banking industry will show its determination to support the target of economic growth. growth by both policy and action, Mr. Cong Thanh emphasized.

Hoang Yen (Collection source)