Spitamen Bank reduced interest on all types of loans!

About next reduction in interest rates on loans, bank achievements, and measures to improve public access to banking services during the pandemic told us Khikmatov Umedjon, the First Deputy Chairman of the Management Board of Spitamen Bank.

- In these difficult days, the issue of loans is in the top of the most popular media topics, please tell us about the initiative of Spitamen Bank in this direction.

- You correctly noted that access to credit/loan resources remains one of the most discussed topics. Spitamen Bank, as the socially responsible Bank, taking care of customers’ welfare is always striving to improve credit conditions.

Regular decrease in interest rates on loans is proof of this. In the beginning of 2020, the bank announced similar initiative to reduce interest rates, which was highly appreciated by customers.                                                                                                                      

-Umedjon Safaralievich, please explain how much interest on loans is reduced this time?

- The maximum decrease in interest on all types of loans in national currency amounted to about 6% per annum. New minimum rate in the frames of the action is 14% per annum in USD and 20% in national currency TJS.

- At present, some banks temporarily refuse to provide loans, and Spitamen Bank, on the contrary, not only provides loans, but also declares shares that are available to everyone?

- Spitamen Bank believes that the main task of commercial bank is not only to make profit, but also to contribute to welfare and the development of society.

For this reason, the Bank decided to lower interest rates during the period when customers most need it.

- Recently, International rating agency MicroFinanza Rating (MFR) confirmed the rating of Spitamen Bank at “BBB-“ level with stable forcast. Please tell us more about this.

- As it is already known, the “BBB-” assessment with stable forcast confirms stability, reliability and stable financial position of the bank. But, in connection with the latest events related to the crisis around the pandemic, the MicroFinanza Rating agency re-analyzed new financial data of the bank. Fortunately, thanks to the right risk management strategy, timely development of programs to provide credit benefits to customers, and, of course, the efficiency of specialists, the bank was able to improve the quality of its assets and confirm its rating.

- Did you say credit benefits/facilities? What benefits does the bank provide to customers affected by COVID-19?

Yes, Spitamen Bank was one of the first, since the beginning of coronavirus, to offer customers affected by COVID-19 benefits and credit holidays for up to six months, which once again strengthened Spitamen Bank's position as the socially responsible bank.

- Who can count on credit holidays and what needs to be done?

Deferral of payments is issued to both those who came through the COVID-19, and those who were forced to quarantine or lost their jobs due to the pandemic.

Those who have been treated for coronavirus or have been rehabilitated, have been quarantined after arriving from abroad, have been on vacation without pay, or have lost their jobs as a result of the cuts caused by the pandemic, can rely on credit holidays.

In order to receive such delay, customers affected by the pandemic must address to the Spitamen Bank branch in writing.

- Umedjon Safaralievich, Spitamen Bank is the only bank in the country that, despite the difficult situation, regularly opens new service points. What is the reason for this?

- The principle of the Bank’s work is based on building long-term and partnership relations with customers. Our goal is to be closer to customers and provide the country's population with high-quality and affordable financial services.

Thus, since the beginning of 2020, the map of Spitamen Bank’s service points has expanded by another 11 new service centers, and this is not the limit!

Besides the opening of new central banking centers, Spitamen Bank is also expanding its ATM network, which will increase public access to financial resources.

- On the eve of National Unity Day, do you have any wishes for our readers?

I congratulate all compatriots on this holiday, and wish peace, happiness and love always prevail in house of every resident of our country.