Business support from BAC A BANK

Business support from BAC A BANK

Locally-invested BAC A BANK is now strongly extending its financial support for businesses which are hurt by the health crisis. With a view to supporting enterprises in weathering difficulties caused by the COVID-19 pandemic, the bank is deploying a special programme on providing preferential loans, which will be vital fuel for their operations.

BAC A BANK’s loan rate reductions will simplify conditions for borrowers

The pandemic raging worldwide has taken a heavy toll on the global economy and the Vietnamese economy, bringing business production and activities to a standstill, with shrunken markets. This has been making serious dents in the revenue and profit of many enterprises, directly threatening the livelihood of millions of labourers.

With the motto of “Providing the best services for customers for sustainable development”, and in the current context of numerous difficulties, BAC A BANK has taken the initiative in implementing effective solutions to support enterprises to recover and develop their production and business, while overcoming damage caused by the pandemic.

The bank’s programme is being carried out from April 1 to June 30, with total loans valued at VND3 trillion ($130.43 million) provided at all BAC A BANK branches throughout the country. With this preferential credit package, the bank will offer a reduction of lending rate for loans.

Specifically, a maximum annual lending rate reduction of 1 per cent will be offered depending on the levels of reduction in borrowers’ revenue. Customers entitled to this initiative include enterprises in the list of the sectors the most vulnerable to the pandemic, such as agriculture and fishery; processing and production of food and beverages; transport and logistics; tourism service, hotels, and restaurants; as well as other business sectors indirectly it by COVID-19.

Meanwhile, BAC A BANK also provides new loans with a lending rate which is 0.6 per cent lower than the existing regulation on lending rates applicable to customers who have yet to have any transactions with BAC A BANK.

With simplified procedures, the bank will create the best conditions for borrowers to seek low-cost loans which are suitable to their performance situations as per appraisal of the bank.

Tran Thanh Hai, director of the Wholesale Banking Segment under BAC A BANK said, “In response to the State Bank of Vietnam’s policy on removing difficulties of the economy, and ensuring social security in order to cope with the pandemic, BAC A BANK expects that this preferential credit package for pandemic-hit enterprises will be a good impetus for them to soon recover their production and business activities.”

“Via this programme, BAC A BANK wishes to continue supporting the domestic business community so that their operational effectiveness and growth can be always secured, contributing to the economic recovery of the country,” Hai added.

At present, BAC A BANK is offering a wide range of savings products that can help maximise customer requirements, such as ordinary savings, as well as savings for the elderly, home builders, the armed forces, and for profitability and online deposit reasons. BAC A BANK is also considered among the lenders with the best customer care policies.

As a result, the bank has been attracting a great deal of customers over recent years.

VIR