TienPhongBank to reserve 2.5 trillion VND to assist enterprises

The workshop’s content focused on finding solutions and effective capital planning mechanisms for enterprises’ long-term growth strategy in the context of the global financial crisis.

At the workshop, TienPhongBank’s senior specialists listed the obstacles that banks and enterprises are facing, such as:

Financial status and direct relations between bank and enterprise executives, as well as the repayment of debts play a vital role in maintaining the credit relationship between banks and enterprises;

Although mortgages are the basic requirements for initial loans, banks have a tendency to rely more on history of debt settlements and future income factors rather than present mortgages to decide subsequent loans;

Other loan safeguards, such as cash transfer to seller, enterprises’ inventory supervision are major obstacles to the enterprises business.

During the workshop, TienPhongBank’s specialists also gave solutions to the above challenges. Most notable is the recommendation for enterprises to make use of consultation services, especially from banks. Enterprises should also try to develop business customs by constructing a long-term business plan and urgent business initiatives.

Increased transparency of corporate operations is also among the solutions put forth by TienPhongBank.

Concerning solutions for banks, TienPhongBank provided 8 feasible solutions such as diversifying products and services portfolio; improving employee’s awareness of the credit relationship between banks and enterprises.

The solution to grant “trustee certificates” to enterprises to screen cheating enterprises has received the most attention of the audience at the workshop.