Home Finance

Banks offer low rate loans to businesses

Jun 19th at 10:36
19-06-2013 10:36:08+07:00

Banks offer low rate loans to businesses

Sacombank and seven other banks yesterday signed credit contracts worth more than VND1,209 billion (US$57.5 million) to support 44 businesses and six households in District 9 and Thu Duc District.

 

The other banks are Agribank, Vietinbank, BIDV, DongA Bank, Eximbank, HDBank and OCB.

Sacombank will offer a total of VND50 billion ($2.38 million) in support for 13 businesses at interest rates beginning at 10 per cent per year.

The signing ceremony was chaired by the State Bank of Viet Nam's HCM City Branch in collaboration with the HCM City Department of Industry and Trade, and the People's Committees of District 9 and Thu Duc District.

Since the beginning of this year, Sacombank has offered 15 preferential packages worth a total of VND19,450 billion ($926.19 million) and $90 million to support businesses and individuals following policies set by the Government and the State Bank of Viet Nam.

vietnamnews

MOST READ

NEWS SAME CATEGORY

Equity firm shuffles deck
FINANCE Jun 19th at 09:48

Equity firm shuffles deck

Vietnam-focused private equity firm Mekong Capital is planning to divest from five companies this year and next year as part of its restructuring plan to prepare...

New insurance firm opens doors
FINANCE Jun 18th at 13:37

New insurance firm opens doors

The PVI Sun Life Company has become the latest life insurance company to do business in Viet Nam, launching its operation and sales on Sunday in HCM City.

TienPhong raises charter capital
FINANCE Jun 18th at 13:36

TienPhong raises charter capital

TienPhong Bank has raised its charter capital from VND3 trillion (US$142.9 million) to VND5.55 trillion ($264.3 million).

Dong/dollar exchange rate to cool down in July
FINANCE Jun 18th at 10:34

Dong/dollar exchange rate to cool down in July

The dollar price has been increasing these days because of the slight demand increase. However, the dong/dollar exchange rate is believed to get stabilized by early...

Credit growth prospects looking brighter
FINANCE Jun 18th at 10:01

Credit growth prospects looking brighter

State Bank of Viet Nam Governor Nguyen Van Binh believes that the banking sector will realise its credit growth target of 12 per cent this year, according to a Viet...

Credit growth prospects looking brighter
FINANCE Jun 18th at 10:00

Credit growth prospects looking brighter

State Bank of Viet Nam Governor Nguyen Van Binh believes that the banking sector will realise its credit growth target of 12 per cent this year, according to a Viet...

M&As top of the pops
FINANCE Jun 17th at 13:45

M&As top of the pops

Vietnam’s mergers and acquisitions market is expected to be more vibrant thanks to a raft of simplified legal procedures.

Vietnam may cut 50-70 percent of auto taxes and fees
FINANCE Jun 15th at 21:05

Vietnam may cut 50-70 percent of auto taxes and fees

The high taxes being imposed on automobiles would be cut sharply in a strategy to stimulate the demand and attract the investments to the Vietnamese automobile...

VAFI: Two credit rating agencies suffice for VN
FINANCE Jun 15th at 20:45

VAFI: Two credit rating agencies suffice for VN

The country needed only two credit rating agencies (CRA), in addition to international CRAs, when conducting single rating services, according to the Viet Nam...

Bad debts decrease, but worries still exist
FINANCE Jun 14th at 11:05

Bad debts decrease, but worries still exist

The pressure on the banking system has been eased once the bad debts are on the decrease. However, bankers themselves admitted that their worries still have not...

Read More

Bank stocks

Insurance stocks

MOST READ

Back To Top