The preferential rate will be applied to customers operating in export, support industry, hi-tech industry and hi-tech agriculture.At the same time, the bank will continue running large-scale loan packages with preferential interest rates that are lower than the normal rate by 1%-1.5% per year for customers in the Government’s priority list. They include VND10 trillion package for small and medium-sized enterprises, VND20 trillion for large firms, and VND3 trillion for micro enterprises and startups.Earlier, Agribank, Vietcombank and Vietinbank also announced their plans to cut interest rates for loans in five prioritised sectors to assist people and businesses in accessing capital, thus boosting economic growth.
Credits rise slowly despite deep cut in lending rates By Thuy Trieu - The Saigon Times Daily HCMC - Corporate borrowers still keep banks at arm's length despite the capital cost has fallen sharply after lenders slashed their rates in recent weeks, a situation that foretelling difficulties enterprises are grappling with. Most commercial banks reached by the Daily say they can hardly see an increase in credit growth because enterprises, facing difficulties triggered by the global crisis, do not want to further expand operation. "By late March, the credit growth at the branch had been 40% from late last year,…... [read more]
Illustrative photo (Source: VNA)Hanoi(VNA) – The Bank for Investment and Development of Vietnam (BIDV) will cut downits lending interest rate for short-term loans in VND for prioritised sectors by0.5 percent to 6 percent per year from January 15.The preferential ratewill be applied to customers operating in export, support industry, hi-techindustry and hi-tech agriculture.At the same time, thebank will continue running large-scale loan packages with preferential interestrates that are lower than the normal rate by 1-1.5 percent per year forcustomers in the Government’s priority list. They include 10 trillion VNDpackage for small and medium-sized enterprises, 20 trillion VND for largefirms, and…... [read more]
Vietnam's leading state-owned banks including the Vietnam Bank for Industry and Trade (Vietinbank) and the Bank for Foreign Trade of Vietnam (Vietcombank) have further cut lending rates sharply after Vietnam's central bank lowered the benchmark rate to 12 per cent. Vietinbank will cut lending rates of short-term loans to 15 per cent and of medium, long-term loans to 16.5 per cent per annum from November 18. Meanwhile, Vietcombank said it started cutting lending rates to 13.5 per cent from 15.2 per cent from November 17. So far, Agribank, BIDV, Vietinbank and Vietcombank have joined efforts to cut borrowing costs to help boost growth…... [read more]
Vietnam's central bank aims to get commercial bank lending rates down to between 17 percent and 19 percent, perhaps from next month, its new governor was quoted as saying in an online report, which helped lift stock prices. Dong rates averaged 18.64 percent in July, with loans for the agricultural and export sectors at 16-21 percent, other production and business activities at 18-22 percent and non-manufacturing sectors at 20-25 percent, the central bank said in a monthly report on Wednesday. The State Bank of Vietnam will work with banks to try to get rates down from mid-September, Governor Nguyen Van…... [read more]
Customers at Vietcombank (Source: dantri.com.vn)Hanoi (VNA) - Vietcombank will be the first bank to cut its lending interest rate in response to the Government’s recent resolution.Vietcombank chairman Nghiem Xuan Thanh announced on October 14 that his bank would cut lending rate for five prioritised sectors of agriculture, exports, supply-parts industries, small- and medium-sized enterprises and hi-tech businesses, besides start-up firms.Accordingly, lending interest rates for short-term loans in those sectors will be reduced to 6 percent per year from today, down 1 percent.All existing outstanding loans with interest rate of more than 6 percent will be also adjusted down to 6…... [read more]
