Practical and Timely Solutions
As a bank with a network of over 1,200 transaction points across 63 provinces and cities in Vietnam, LPBank has a wide reach, even in remote and rural agricultural areas that are vulnerable to risks and natural disasters. Immediately after Super Typhoon Yagi landed in Vietnam, LPBank’s management instructed its branches and transaction offices in the affected areas to proactively contact borrowing customers and assess the damage to offer timely and appropriate support.
A representative from LPBank shared that during the typhoon and the subsequent flood, the bank closely monitored and received updates from its branches and transaction offices in the directly impacted regions to evaluate the extent of damage experienced by its customers. Mr. Ho Nam Tien, CEO of LPBank, stated, “The bank considers this an urgent priority and will assess each customer’s situation to offer debt restructuring, debt rescheduling, and reduced interest rates. We have also launched a credit package with a reasonable scale to stand with the people and businesses in their recovery efforts.”
LPBank offers a reduction in lending rates of up to 2% per year
Standing with Customers During Their Most Challenging Times
To support and empower customers in the typhoon-affected areas and help them recover quickly, LPBank is introducing a lending rate reduction of up to 2% per year from now until December 31, 2024. Additionally, the bank plans to restructure debts and extend the repayment period for principal and interest for existing customers in Hanoi and the northern provinces affected by the storm and floods.
The LPBank Trade Union Executive Committee calls on all employees to support flood victims
LPBank will reduce lending rates for a total outstanding loan balance of up to VND 29,700 billion. It is expected that more than 63,200 customers in 26 provinces and cities directly impacted by the typhoon will benefit from this program. For new customers, LPBank is also offering necessary support with a lending package of up to VND 8,000 billion, covering various loan purposes such as repairing business premises, working capital loans for business recovery, home construction and repair loans, and consumer loans for a better life. The total expected interest rate reduction is estimated at VND 85 billion.
Furthermore, LPBank provides diverse credit facilities, including loans, overdrafts, guarantees, and credit cards, enabling customers to access capital flexibly according to their needs. The bank hopes that these support packages will enable people to access favorable capital to rebuild their lives after the floods.
Additionally, LPBank has promptly established task forces through its branches and transaction offices to visit and encourage affected customers, assess the extent of damage and repayment capacity, and provide timely support to customers in areas severely affected by floods in the Eastern and Northwestern regions, including Hai Phong, Quang Ninh, Thai Nguyen, Tuyen Quang, Bac Kan, Lang Son, Yen Bai, Lao Cai, Son La, and Lai Chau. These efforts aim to help customers restore and stabilize their business operations as soon as possible.
LPBank’s management and employees donated one day’s salary to support flood victims
Demonstrating its spirit of solidarity, LPBank previously donated VND 2 billion to support fellow citizens affected by the typhoon through the Vietnam Fatherland Front Committee. In addition, the LPBank Trade Union Executive Committee encouraged each employee to donate one day’s salary. As of September 13, the total registered amount of support from LPBank’s union members nationwide exceeded VND 4.5 billion, reflecting their desire to share and ease the pain of the affected people and colleagues.
Moving forward, LPBank will continue to organize various activities to support the flood-affected regions, demonstrating its commitment to social responsibility and contributing to spreading humanitarian values to overcome difficulties together.
Motorcycle Flood Repair: Free Services for the Flood-Affected Yen Bai Community
From September 18th at 8 am until September 20th, the Yen Bai City Business Association, in collaboration with the Thanh Hoa and Hanoi Motorcycle Technical Associations, is offering a helping hand to the flood-affected communities. Our skilled technicians will be providing free services, including spark plug replacement, oil filter changes, and engine oil top-ups, to ensure that your vehicles are back in optimal condition.
Who Donated 1.04 Billion VND and Topped the Vietnam Fatherland Front’s List?
This is only the first phase of the donation process from this organization, and we can’t wait to see the impact it will have. With their continued support, we’re confident that we can make a real difference. Stay tuned for more updates on this exciting partnership!
“MB Donates Over 14 Billion VND to Support Flood-Affected Communities”
MB, Military Commercial Joint Stock Bank, is actively involved in relief efforts for communities affected by the recent storms. Beyond direct financial contributions to the affected regions, the bank is encouraging its employees to donate to a dedicated charity account managed by the MB Trade Union. Additionally, MB has launched a VND 2,000 billion loan package to support its customers impacted by Storm No. 3, helping them rebuild their lives and get back on their feet.
The Comeback King: How the Van Don Fishermen Rose from the Ashes
“We may stumble and fall, but we, the people of Van Don, always get back up. Just two years after the devastating Super Typhoon Yagi, we will rise again, stronger and more resilient, and Van Don will flourish once more.” This is the defiant and hopeful statement made by the resilient community of Van Don, Quang Ninh, in the aftermath of Super Typhoon Yagi.
Leaving No One Behind
Last week, the people of Vietnam, particularly those in the northern regions, endured an unforgettable experience as Tropical Storm Yagi unleashed its fury.
