Banks offering non-production loans on strict conditions

Although announcing to stop offering non-production loans, some banks that still have room for credit growth limit are providing loans with stricter conditions, the local newswire Thanh Nien reported on June 28.
Staff of Asia Commercial Joint Stock Bank (ACB) said that this bank is still offering unsecured loans with the highest limit of 300 million dong. In addition, ACB is also offering mortgage loans for consumer purpose.

Bui Tan Tai, ACB’s deputy general director said his bank’s outstanding loans for non-production sector are now at 16% so the bank will be able to provide non-production loans for individuals. However, this is not easy because of high lending rate.

Deputy director of a HCM City-based joint stock bank also said the bank only offers loans for management board of enterprises that has good relation with the bank with the highest credit line of 300 million dong and the lending interest rate at 22% per year.

Additionally, the bank is still offering home loans through real estate investors.

Even, HSBC Bank has recently launched a big preferential lending programme from now till September 13, 2011 whereby the lending interest rate is only 6% per year (0.5% per month) for first month and it will be 23% per year for the following month for the loan worth over 100 million dong, 24% per year for loans worth from 50-100 million dong and 25% per year for less than 50 million dong loans. – Vietbiz24

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Jul 1 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry