Petrolimex buys $1.3b from banks in Apr-May

In April and May, Petrolimex, or Vietnam National Petroleum Corp bought $1.3 billion from commercial banks, Dam Thi Huyen, Petrolimex’s deputy general director said at the online meeting held by the Ministry of Industry and Trade (MoIT) on June 6, the VnExpress local newswire reported.

With a foreign currency loan balance of about $400 million per month, a relatively stable level, Huyen still worried about the foreign currency situation in the coming months.

At this meeting, almost enterprises said they are suffering difficulties due to too high lending rate at banks.

Vietnam Steel Corp’s general director said due to high interest rate, steel consumption in April and May decreased from the same period last year, so steel manufacturers forecasted to gain no growth in H1 this year.

Tags: Petrolimex

Posted by VBN on Jun 8 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