TrustBank offers soft loans for exporters

Dai Tin (Great Trust) Commercial Joint Stock Bank (TrustBank) has recently said that from October 5 to the end of December 31, 2011, the bank will offer incentives for small and medium-sized enterprises (SMEs) to serve purchase and processing of products for exports, agriculture, seafood that commit to use the bank’s international payment service.
The program has two supporting forms namely minimum commercial preferential interest rate of from 17.6% per year in dong and 5% in US dollar and 50% incentives for international settlement service fee.

At the meeting between the State Bank of Vietnam (SBV) and 12 large commercial banks on October 4, the central bank’s governor, Nguyen Van Binh, said that after implementing the key tasks for remaining months of this year (on September 7), so far, production credit posted high increase, of which, credit for agriculture, rural area and export saw the highest rise of 30%.

As reported by the central bank, the lending interest rate in dong for production and business is currently commonly at 18-21% per year, 6-7.5% per annum in US dollar for short terms and 7.5-8% p.a. for medium and long-terms. – SOurce: Vietbiz24.com

Tags: TrustBank, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Oct 7 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