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SHB accompanies Vietnam Airlines to overcome difficulties caused by Covid-19


Actively responding to the policy of the Government and the State Bank of Vietnam (SBV), in order to support the business community to overcome difficulties caused by Covid-19 pandemic, recently, Saigon – Hanoi Bank (SHB) was one of three commercial banks to sponsor Vietnam Airlines Corporation – Vietnam Airlines with a total credit limit of VND 4,000 billion. This is one of the specific and practical actions that SHB has continuously implemented since the outbreak of the epidemic, in order to stand together with customers and the community to cope with difficulties.

Accordingly, three banks including Saigon – Hanoi Bank (SHB), Southeast Asia Bank (SeaBank) and Maritime Bank (MSB) pledged to finance loans for Vietnam Airlines with a total amount of VND 4,000 billion from the refinancing source of the State Bank, in which, SHB sponsored a credit limit package of VND 1,000 billion.

Playing a key role in Vietnam’s aviation activities, Vietnam Airlines has affirmed its position as a 4-star international airline with a global and regional scale of operations, made a great contribution to the State budget and significantly contributed to socio-economic development.

The negative impact of the epidemic on the aviation industry lasted from the beginning of 2020 and until now there has been no sign of cessation, causing many flight routes to be suspended for a long time, greatly affecting the air transportation industry in general and business activities of Vietnam Airlines in particular. However, Vietnam Airlines has proactively chose responding initiatives with drastic solutions from the early days of the epidemic, in order to maintain production and business, and ensure the country’s trade activities; participated actively and responsibly in the campaign to carry citizens, and at the same time transport goods and medical equipment from overseas to Vietnam as well as from Vietnam to support other countries.

Actively respond to the guidelines of the Government and the State Bank; SHB is always ready and pioneering to support enterprises in general and VNA in particular to overcome difficulties and stabilize production and trading; contribute to economic development.

In that context, the Government, the State Bank and the banking system have implemented a series of policies and solutions to support Vietnamese enterprises in general and Vietnam Airlines in particular, contributing to solving difficulties and stabilizing production and trading, continuing the proud journey of the of Vietnam Airlines.

Mr. Vo Duc Tien, Vice Chairman of the Board of Directors of SHB said: “SHB believes that the coordination of ministries, agencies and the commercial bank system will add more resources for Vietnam Airlines to turn challenges into opportunities, becoming stronger and reaching further; to continue the mission of the national airline, contributing to promoting the country’s trade and connecting prosperous journeys for the people, helping Vietnam reach out globally. With a series of drastic, specific and practical solutions and actions over the past time, SHB is always ready, come pioneering, stand together with the Government, the State Bank, and the business community across the country, especially in the context of the current epidemic, with the hope to support businesses stabilize their production and business activities; contribute to the promotion and development of the economy; continue to make Vietnam become the bright spot of the world in terms of disease prevention and ensuring economic growth and social security.”

The credit financing for Vietnam Airlines is both the responsibility and the desire of the banking system in joining hands with the Government and the whole country to overcome the epidemic and develop the economy. Hopefully, with the close direction of the Government, ministries and agencies and the cooperation of credit institutions, Vietnam Airlines in the coming time will soon overcome difficulties, continue to develop and affirm its position in the region and the world.

Furthermore, the cooperation of 3 commercial banks and Vietnam Airlines Corporation will open many other development opportunities in the future, together with the Government contributing to bring about the common prosperity of the country, wealth and strength for every Vietnamese people.

Besides business development, accompanying customers and businesses; SHB is a bank that always upholds its responsibility to the community. Since the outbreak of the disease, SHB has pioneered in several activities, co-ordinated with the Government and people across the country in the prevention of Covid-19: pioneered in supporting the Government’s Vaccine Fund of VND 15 billion; pioneered in donating more than 100,000 Covid-19 rapid test kits to customers, employees and the community; pioneered in deploying credit packages of nearly VND 33 trillion to support customers and businesses; along with many other practical supports for localities and frontline agencies against the epidemic with a total donation of nearly VND 50 billion.