Banks must increase unsecured loans

The State Bank requires credit institutions to build a corporate credit rating system to enhance the ability to lend without collateral.

Collateral is a difficulty for most businesses when accessing capital. Photo: Anh Quan.

The State Bank has just issued a document directing credit institutions to implement a number of solutions to implement Prime Minister's Directive 11 to solve difficulties for businesses. One of them is to build a business credit rating system to increase the ability to lend without collateral. In fact, interest rates are now quite low and are no longer an obstacle for businesses in accessing capital. Instead, businesses say that the current difficulty is that they no longer have factories, conditions to have collateral when borrowing from banks.

Therefore, the State Bank requires banks to develop a process for collecting and exploiting information to assess customer creditworthiness from the Vietnam National Credit Information Center, corporate credit rating organizations, etc., as well as internal systems. This will be the basis for banks to consider unsecured loans for businesses.

Credit growth in the first half of 2014 was only 3.52% - a quarter of the target of 12-14% for the whole year. In addition, to promote credit growth from now until the end of the year, the regulator requires banks to proactively approach customers in need of loans. At the same time, banks need to prioritize lending capital to key projects, large, effective projects and priority areas according to the Government's policies.

Also in this directive, the operator requested to urgently accelerate the restructuring of subsidiaries that are financial leasing companies. These entities are expected to support businesses in increasing production capacity in difficult capital conditions, limiting the ability to accumulate capital in fixed assets.

According to reading the newspaper