BIDV Highlights
Thu Trang
Active and strong support for businesses BIDV and the banking industry have actively and uniformly implemented solutions to support customers affected by the Covid-19 pandemic. Solutions to ease difficulties for borrowers Since the beginning of 2021, BIDV has implemented preferential credit packages to support businesses and people to access capital at a reasonable cost to promote production and business activities, overcome difficulties caused by the Covid-19 pandemic. These include short-term credit packages of more than VND350 trillion (USD15.2 billion) at the average interest rate of 4.5~5.0 percent/ year, 1-2 percent/year lower than the normal lending rate; a foreign currency loan package of USD1 billion at the average lending rate of only about 2.5 percent/year, 1-1.5 percent lower than the normal lending rate. Especially for some import-export customers, the preferential lending rate is only between 1.5 percent and 2.0 percent. For medium and long-term credit, BIDV has launched credit packages totaling up to VND65 trillion (USD2.8 billion) at an average lending rate of 7.1 percent/ year only, 1.5 -2 percent/year lower than the bank’s average medium and long-term interest rate. In particular, BIDV has implemented a VND35 trillion (USD1.5 billion) medium and long-term credit package with lending
interest rate fixed in 5 years which enables customers to easily determine financial costs during their investment period. Following the direction of the State Bank of Vietnam, BIDV has also directed branches across the system, especially those in the pandemic
6
B I D V review
areas such as Bac Ninh, Bac Giang, Hai Duong, Quang Ninh, and Ho Chi Minh City... to ensure pandemic prevention and control measures, comply with the direction of the Prime Minister, the National Steering Committee for Covid-19 Prevention and Control and local authorities. At the same time, the bank’s branches
