NCB KICKS OFF THE NEW YEAR BY OFFERING ATTRACTIVE INCENTIVES TO MANUFACTURERS

The facilitation of favorable loan access for manufacturing businesses by National Citizen Commercial Joint Stock Bank (NCB) in the new year is supported by enticing incentives, competitive interest rates, streamlined documentation, and expedited processing times.

Full support for businesses to boost production and business

Numerous policies and measures were actively implemented by the government, ministries, branches, and localities in 2023 to assist businesses in stabilizing and expanding production, including the extension of the 2% VAT reduction policy for production and business households until mid-2024, the reduction of lending interest rates, and the simplification of loan procedures, among others. In accordance with data from the Business Registration Management Agency of the Ministry of Planning and Investment, the nation witnessed the resurgence of its economy in 2023. Specifically, 159,294 enterprises were officially registered, representing a 7.2% growth rate when compared to 2022. Furthermore, the number of enterprises resuming production and commerce surged substantially, amounting to 58,412.

Commencing from the first day of 2024, certain commercial banks have implemented segment-specific flexible credit packages in accordance with the government's policy of allocating credit capital to production and business sectors, which are sectors of priority and economic development drivers. With regard to manufacturing businesses in particular, the National Citizen Commercial Joint Stock Bank (NCB) enforces a number of enticing policies, including expedited processing times, competitive interest rates, collateral incentives, and compact documents. As a result, a substantial quantity of manufacturing enterprises are able to obtain all the resources necessary to advance and enhance their business performance prior to the start of the new year.

NCB supports manufacturers in accessing convenient loans

Superior policies, meeting diverse credit needs

As a result, NCB's corporate customers will have the opportunity to obtain loans for production and business purposes at preferential interest rates beginning at merely 8%, on credit forms that are appropriate for the intended purpose of the loan. Additionally, NCB provides a maximum overdraft limit of VND 2 billion, enabling organizations to transfer funds directly from the unit's account for operational and business purposes, without the need to submit a disbursement request.

Additionally, NCB lends customers loans at a rate of up to 95% of the value of collateral assets in order to provide maximal support for working capital for businesses, thereby ensuring a consistently efficient production and business circuit. With a collateral-free loan limit of up to VND 1 billion for salary payments, the bank additionally offered an optimal resolution to the dilemma of operating expenses for customers in the manufacturing sector.

In addition, NCB's corporate customers are granted numerous additional privileges and incentives, including complete exemption from charges for SMS Banking, Internet Banking, electronic tax payments, and customs tax payments around the clock.

The NCB is progressively solidifying its position as a proactive collaborator in the revitalization and acceleration of the Vietnamese business community

In addition to assisting businesses in capitalizing on business opportunities and alleviating financial burdens, NCB's policies are practical, adaptable, and diverse; they also demonstrate the institution's dedication to assisting businesses in a challenging market environment.

Previously, NCB continuously implemented incentive programs to assist businesses in recovering and accelerating business, which was highly appreciated and trusted by the business community, such as "Simple Transfers – Countless Flat Rates," which supports money transfer fees for import-export businesses, or "Golden incentives - thousand payments," which offers preferential international payment fee combinations, among other things.

NCB iziBankbiz, a digital bank administered by the bank in 2023, catered exclusively to corporate customers and featured two variants of Internet Banking for browsers and Mobile Banking for smartphones (iziMobiz application). The NCB iziBankbiz digital banking service facilitates consistent and effortless operation and experience across all devices. It aids businesses in the digitization of financial management, alleviates the strain on operational resources, and fosters business promotion motivation.

By consistently introducing new, improved, and digitalized business-oriented products, services, and programs, NCB is progressively solidifying its position as a proactive partner in fostering the resurgence and acceleration of the Vietnamese business community. Concurrently, enhance competitiveness continuously, stay abreast of trends, and contribute effectively to the growth of the economy.