MEETING WITH CAN THO BRANCH MANAGER OF INDOVINA BANK, MR. PHAN DUY KHUONG

Dr. Tran Dinh Lam, together with two senior managers of Shinsei Bank (Japan), Junya Nakamura and Kazuto Daijo, had a meeting with Phan Duy Khuong, Manager of Can Tho Indovina Bank, to learn about the sector of personal loans in Vietnam on July 20, 2013.

Khuong had a brief introduction of the history of establishing and starting its operation of Can Tho Indovina Bank. He expressed pride in the achievements in business of the bank, especially the fact that his bank does not have to suffer from bad debt.

The two senior managers of the Japanese bank also shared precious experience with Indovina Bank in the field of housing and car loan as well as how to deal with bad debt in Japan. Besides, they had some discussion on the technique for managing borrowers effectively. Specifically, the term of car loan is 5 – 10 years and housing loan up to 35 years. A difference in personal loans between Japanese banks and Vietnamese counterparts is that the former can offer borrowers 100% of the total value of the thing they want to buy while the latter can loan them 70% only.

Junya Nakamura and Kazuto Daijo all highly value business activities in Can Tho City, especially the Hiep Thanh Seafood Joint Stock Company. With about 6 plants in operation and good progress in business, the company can easily attract investment from a number of banks to promote its business. The two Japanese managers are also very impressed with the good heart of Bay Phan, Director of Hiep Thanh Company, since he always thinks of the largest benefit for farmers. He hopes that the government will reduce tax on fertilizers and pesticide to help decrease the initial costs for farmers as well as consider decreasing VAT by 5% so that companies can buy farmers’ agricultural produce at higher price, which will bring them more benefit. Bay Phan added that his company could earn an additional profit of 23 million VND since banks declined the interest rate on business loans to 0% within the first 3 months, but he would be happier if the government could have cut back tax for farmers.

Mr. Bay Phan, Director of Hiep Thanh Company (1st row, R).

Through the sharing of the Hiep Thanh Company’s director, the two bank managers all agree with him and really appreciate his heart for farmers. In fact, businesses cannot have stable development if farmers have to suffer many difficulties in their farming activities.

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