Vietcombank to lower lending rate for exporters

Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) has recently announced that as from September 15, it will lower the lending interest rate in dong for exporters of seafood products and processors and exporters of wooden products.
Accordingly, the preferential lending interest rate of 17-19% per year will be offered to customers in sectors of production, export, agriculture and rural area.

Particularly, customers subject to aforementioned borrowers in HCM City will enjoy the preferential lending interest rate of 16.5% per year. Exporters who use payment services via Vietcombank will be given the most preferential lending interest rate of only 16% per year.

In addition, Vietcombank also set aside of four trillion dong to launch lending program for enterprises in the sectors of export of seafood and processing and export of wooden products whereby the preferential lending interest rate for this program will be only 16% per year.

Besides, from now till the end of December 2011, An Binh Commercial Joint Stock Bank (ABBank) will also spare about one trillion dong to finance exporters with lending interest rate of from 18.3% per year. This bank will set aside of loans worth trillions of dong to support short term working capital, finance medium and long term project and fund small and medium sized enterprises (SMEs).

Earlier, from August 22 to December 31, 2011, ABBank also lowered the lending interest rate by 1.5% per year for all individual customers and household businesses and private firms to serve production and business activities.

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

Posted by VBN on Sep 16 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