The National Assembly member said that the share of banks with businesses is not adequate
According to delegate Tran Van Lam, when the banking system faced difficulties, the whole political system contributed to support with Resolution 42 of the XIV National Assembly. But the past two years economy record low growth, many businesses failed, bankrupt withdrew from the market, people struggled because of the epidemic, many bank debts were due and could not be paid, but most banks still made high profits, sharing huge profits. . Mr. Lam said that the bank’s share with businesses over the past time has not been commensurate.
Previously, delegate Cao Thi Xuan also raised a question about businesses having difficulty in mobilizing credit, so transport projects are mainly proposed to switch to public investment?
Responding to banks joining hands and accompanying people and businesses, Governor Nguyen Thi Hong said that when COVID-19 occurred from the beginning of 2020 until now, credit institutions have exempted and reduced interest rates for businesses. industry and people. The total number of exemptions and reductions is VND 48,000 billion.
However, the banking system itself is a financial intermediary, its revenue is from interest and other services, but it is also associated with risks and bad debts that can often arise. Therefore, banks need to have backup financial resources to deal with bad debts.
State bank issued a Circular allowing banks to restructure debt repayment terms, keeping the debt group unchanged for businesses and people. Credit institutions participate very actively. Many businesses with bad debt, should not be eligible for loans, bad debt, unable to repay, so they are not allowed to borrow capital. But in this way, businesses and people can get loans back.
In the first 5 months of this year, credit grew by 8%. This level according to the Governor is high, showing that this is also thanks to the Circular on restructuring loans and allowing the debt group to remain unchanged, so businesses that are able to recover from the pandemic can continue to get loans.
Established banks all have business goals for profit. However, banks have very large capital and assets. Currently, if by the end of 2020, the whole system of credit institutions has a total asset of 14 million billion VND, by March 2022, it will be more than 16 million billion VND, 12 million billion VND in credit. The assets of a credit institution, such as a state-owned commercial bank, are about 1.7 million billion VND. Profitable profit of ten thousand or twenty thousand billion dong on the total assets is not that big. The rate of return on capital of some credit institutions compared to enterprises in other industries is not high.
Talking about providing credit for transport projects, Governor Nguyen Thi Hong affirmed: the banking system still provides. But the implementation of traffic projects is very important, requiring capital from many sources, including public investment, foreign capital, private capital, including credit capital of the banking system.
Because the capital for traffic construction is usually very valuable, has a long loan term, the main collateral is the right to collect tolls. In fact, in the past time, banks have had difficulties lending to BOT projects, because bad debts in these projects are high, many projects’ financial plans are not as good as the original. In the coming time, the State Bank’s policy on BOT projects will also be the basis for the bank to appraise and lend. Any bank that lends in excess of the safety margin needs to co-finance with other credit institutions. If it exceeds 15% and 25% in accordance with the Law on Credit Institutions, it will be submitted to the Prime Minister for decision.
Delegates worried about the 2% loan interest rate support package being exploited
Delegate Hoang Van Cuong (Hanoi) asked a question, currently the State Bank is implementing a 2% loan interest rate support package, worth about VND 40,000 billion. That is, about 2 million billion VND will be disbursed from this loan program. Does the Governor have any solutions to control to avoid this capital flow into unnecessary areas and avoid policy profiteering like happened in 2009?
Regarding this question, Ms. Hong said that this is a support package that businesses are very interested in, as part of the economic recovery and development program, the subjects are businesses that have the ability to repay debts, rehibilitate. In the process of formulating Decree 31, the State Bank took the lead and coordinated with ministries and sectors to discuss a lot, and the Government also held a lot of meetings with the aim of making the most appropriate regulations, so that the target groups can be clear regulations, ensuring the most accurate implementation, limiting problems.
Resolution 11 of the Government stipulates that there are two groups of subjects:
The first is the need for economic loans as specified in the Prime Minister’s Decision 37 on economic sub-sectors. This is a decision on economic sub-sectors according to the standards prescribed by the Ministry of Planning and Investment.
Secondly, loans for social housing, worker housing, and old apartment renovations are reviewed and announced by the Ministry of Construction in coordination with localities to have a clear basis. In addition, there is the participation of relevant ministries and branches in the stages of estimation, implementation of the estimate as well as the final settlement. Especially, this Decree has the participation of the State Audit for loans before the Finance Ministry finalizes this loan.
“Thus, Decrees and guiding circulars of the State Bank require credit institutions to lend to the right subjects. Enterprises in the fields and industries are supported but must ensure the ability to repay debts and be able to recover. If the above 3 requirements are not met, you will not be able to access this incentive program. Ms. Hong said.
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