‘SBV does not tighten credit for real estate and securities’

On May 27, 2022, the State Bank of Vietnam (SBV) held an online conference of the whole industry to implement the program of 2% interest rate support from the state budget of VND 40,000 billion according to Decree 31/2022/ND -CP and Circular 03/2022/TT-NHNN.

The conference aimed to thoroughly grasp the tasks and contents of Decree 31, Circular 03, guiding the entire commercial banking system and to each locality in order to soon put the policy into practice, contributing to support business and economic recovery.

According to the report of the State Bank, by the end of April 2022, the accumulated value of structured debt since the issuance of Circular 01/2020/TT-NHNN is more than 695,000 billion VND for over 1.1 million customers. The outstanding balance of the debt group remains unchanged at more than 198,000 billion VND of nearly 680,000 customers. The outstanding balance of interest-free and reduced loans remains the same at nearly VND 18,000 billion of more than 166,000 customers.

Regarding credit balance, as of May 20, 2022, credit reached over VND 11 million billion, up 7.66% compared to the end of 2021; credit structure focuses on production, business, priority areas and strictly controls credit for potentially risky sectors.

Commercial banks simultaneously proposed to loosen credit room

Sharing at the conference, representatives of state-owned commercial banks, joint stock commercial banks and banks with 100% foreign investment all agreed that the 2% interest rate reduction program is important and will be drastically implemented by banks. next time.

However, some difficulties are also presented by banks. Specifically, a representative of Agribank expressed concern that there would be a lawsuit if the regulations on loan subjects and conditions for applying interest rate reduction were not clear and detailed. Even if each bank has a different interpretation, different interpretations also lead to customers having different understandings, leading to lawsuits.

Therefore, Agribank proposes to clarify which 11 groups of beneficiaries are the beneficiaries, what conditions are supported so that when applying, avoid errors, as well as lawsuits and the bank also soon deploys. lending activities.

A representative of BIDV said that when supporting customers with 2% interest rate, the bank will have to advance the supporting interest rate to customers before it will be refunded. Thus, the bank actually had to pay extra costs for interest rate support activities. Along with that, the 2% interest rate support program will increase the demand for bank credit. Therefore, this unit proposed the State Bank to consider quickly opening credit room for banks to promptly meet the needs of the economy.

Sharing the same opinion, a representative of VietinBank said that the bank is developing a process and reviewing the beneficiaries of the 2% interest rate incentive. According to calculations, about 30% of VietinBank’s credit scale is in this group of beneficiaries. Therefore, the pressure for short, medium and long-term credit growth of banks in the coming time will be great.

A representative of Vietcombank shared that from the beginning of the year until now, although there is no preferential interest rate program, the bank’s 4-month credit growth has been very high, up to more than 9% compared to the end of 2021. The bank estimates that there will be About 30,000 customers will be eligible for Decree 31. Therefore, Vietcombank is looking forward to soon being considered by the State Bank to expand the credit room to ensure the supply of capital to the economy, as well as fulfill the requirements of the State Bank. Goverment.

The representative of MB Bank raised the problem, currently in Decree 31, it is stipulated that the beneficiaries of this incentive program are not in the group of subjects that have received other incentives from the budget. However, commercial banks cannot fully grasp the support programs from the Government. Therefore, it is desirable to have regulations that require customers to declare and be responsible for whether or not they are in the group of beneficiaries under this regulation.

Representatives of two 100% foreign owned commercial banks, Shinhan and Standard Chartered, all agreed with the above comments and wished to actively participate in the Government’s 2% interest rate support program under Decree 31.

Do not tighten credit on real estate, securities

Speaking at the closing of the Conference, SBV Deputy Governor Dao Minh Tu affirmed: Implementing Decree 31 of the Government and Circular 03/2022 of the SBV is the responsibility of the banking industry and if not careful, there may be risks. . However, this is what the banking industry needs to do immediately.

“From now until the end of the year, continuing to grow credit is the focus, it is the responsibility of the banking sector to restore the economy. The task is to both grow credit reasonably and ensure the medium-sized macro-balance. quality assurance and credit efficiency are associated with the policy of reducing interest rates by 2%, and the prerequisite is not to lower lending standards,” said the Deputy Governor.

Sharing some views that the State Bank is tightening real estate credit, the Deputy Governor affirmed: The State Bank has never said “tighten credit for real estate and securities”, the operating view of the bank. The monetary policy operating agency is to strictly control credit and risk areas, including some segments in the field of real estate, speculative securities, high segments such as resorts and resorts. , while workers’ housing, low-income housing – are necessary goods that are still encouraged and high growth.

However, the Deputy Governor also warned that, with strict control, but only in a few joint stock commercial banks, from now until the end of the year, the State Bank will have an inspection and review of lending activities in risky areas in Vietnam. some small joint stock commercial banks.

Regarding the implementation of Decree 31 and Circular 03, the Deputy Governor shared that the State Bank itself is also in a difficult position, because the economy has just stabilized, production and business activities have begun to become vibrant. . In addition to the program to reduce interest rates by 2%, credit growth is expected to be high, the SBV may have to increase credit room for banks. But at the same time, it is still necessary to control inflation and support growth, while high inflation is present. This is a difficult problem and the SBV is working hard to solve it.

To implement the 40,000 billion interest rate support program, the Deputy Governor asked commercial banks to thoroughly grasp 4 points:

One is to implement it in the spirit of urgency, positivity and drastic action from today (Decree 31 takes effect from May 20).

Second, the implementation must ensure efficiency, compliance with regulations, to the right audience, publicity, transparency and clarity; avoid profiteering and risks for both banks and customers. If the supervisor finds that it is misused, the bank must collect it.

The third is credit activities to ensure the normal operation of the organization, and to ensure that loans are harmonized and reasonable in the spirit of loan restructuring.

Fourth, it is necessary to create consensus and support of all levels of government, people, especially businesses. Subjects have been specified in the Resolution of the National Assembly to the Decree of the Government. The bank must not refuse, evade or push the responsibility. There are currently a number of beneficiaries who do not give loans, the State Bank will inspect and supervise.

According to N.Thoan