Eximbank Binh Phuoc Siding with Businesses

10:16:49 AM | 25/5/2021

Binh Phuoc Branch of Vietnam Import Export Commercial Joint Stock Bank (Eximbank), established in 2014, has helped expand capital resources, and support business activities of enterprises and people in the province. Eximbank Binh Phuoc has quickly built trust among customers and constantly risen to affirm its leading role and position in the financial and banking market of Binh Phuoc province.

Mr. Vo Minh Nhat, Director of Eximbank Binh Phuoc, shared, with potential development of Binh Phuoc province, Eximbank decided to establish Eximbank Binh Phuoc Branch to join hands with local businesses and people and played a part to the cause of socioeconomic development. Eximbank Binh Phuoc will offer all products and services of Eximbank, especially mobilizing unemployed capital from the public and offering loans for small and medium-sized enterprises and individual business households; develop ATM cards, foreign currency exchange, home banking and other banking services with quick procedures, reasonable interest rates, and quick disbursement progress.

In 2020, the COVID-19 pandemic profoundly affected the world economy, as well as Vietnam. To overcome difficulties and challenges, right from the beginning of the year, Eximbank Binh Phuoc soon offered many solutions like promoting digital banking and non-cash payment services and developing e-commerce consumer services.  Eximbank has also encouraged customers to limit transactions at counters, using internet banking and mobile banking instead to avoid potential infections. At the same time, the bank has provided free online money transfer service for both corporate and individual customers. Eximbank Binh Phuoc has offered modern and convenient banking products to customers such as credit products, international and domestic payment products, card products and services, and electronic banking and retail banking. Products are always innovated, upgraded and developed appropriately to better meet the needs of corporate and individual customers. Especially, Eximbank Binh Phuoc has become a reliable transaction address for many FDI companies when choosing to invest in Binh Phuoc with outstanding import and export payment products and services.

Eximbank Binh Phuoc has proactively grasped production and business performances and extent of damage of corporate borrowers affected by the COVID-19 epidemic to promptly provide necessary support for them to deal with difficulties. With the whole system, Eximbank has deployed a credit package of VND5,000 billion, bearing an interest rate of only 6.99% per annum, applicable to small and medium-sized enterprise (SMEs) and a credit package of VND3,000 billion, carrying an interest rate from 5% per annum for large customers. In addition, Eximbank Binh Phuoc provided many appropriate financial solutions such as rate and fee exemption and reduction and repayment term restructuring. With its incentive packages in line with the applicable policy of the State Bank of Vietnam (SBV), Eximbank Binh Phuoc hopes to partially support businesses with an active funding source to restore growth and stability.

Overcoming difficulties and epidemics, with the support of customers, the branch's total deposits reached VND865 billion in 2020 and outstanding loans valued VND1,638 billion. Foreign currency trading, remittance, import and export value amounted to US$189 million. Eximbank Binh Phuoc always stands side by side with customers to implement drastic and timely business support solutions in line with the SBV and Eximbank and discuss with customers to have appropriate support.

In 2021, Eximbank Binh Phuoc will continue to reserve resources for credit packages with reasonable interest rates, aimed for priority economic sectors, consumers, importers and exporters. The branch will build products and services, fund supply chains and finance specific needs of customers.

Especially for FDI customers, Eximbank's products and services are designed to closely follow and best support business development process, from market research to business setup and active expansion.

Source: Vietnam Business Forum