Healthy firms given access to cheap loans
Healthy firms given access to cheap loans
Several enterprises with healthy and transparent finances and effective business plans have been given loans at a rate of only 6.5-7 per cent per year, according to the State Bank of Viet Nam.
In its latest report on the banking sector, the central bank said that dong lending rates last week were steady and credit institutions strictly complied with regulations on the maximum dong short-term lending rates for priority sectors.
The report said that State-owned commercial banks also offered dong lending rates at 7-9 per cent per year for short-term loans for priority sectors, including agricultural and rural development, exporters, support industries, small and medium-d enterprises (SMEs) and high-tech enterprises; 9-10.5 per cent for short-term loans for other production and business; and 11.5- 12.8 per cent for medium and long term loans.
For the group of joint-stock commercial banks, the annual dong lending rates were 8-9 per cent for short-term loans for priority sectors; 9.5-11.5 per cent for short-term loans for other production and business; and 12-13 per cent for medium and long term loans.
The US dollar lending rates were commonly 4-7 per cent per year, of which the lending rates set by State-owned commercial banks were 4-5 per cent yearly for short term, and 6-7 per cent for medium and long term. Joint stock commercial banks offered rates at 5- 6 per cent yearly for short term and 6.5-7 per cent for medium and long term.
The central bank also reported that dong mobilising rates last week were stable compared to the previous week. The rates offered by State-owned commercial banks were commonly 1 to 1.2 per cent per year for demand deposits; 5-6.5 per cent per year for terms below six months; 6.5- 7 per cent for six months to below 12 month terms; and 7.5-8 per cent for 12 month and 12 month-plus terms.
The dong mobilising rates quoted by joint stock commercial banks were commonly 1.2 per cent per year for demand deposits, 6.5 - 7 per cent for one to below six month terms, 7-8 per cent for six to below 12 month terms; and 8-9 per cent for 12 and 12 month plus terms.
The US dollar mobilising rates were also stable at 1.25 per cent per year for individuals and 0.25 per cent for economic institutions.
vietnamnews
