Home Finance

SHB launches scheme to offer interest rate cuts

Jul 25th at 08:21
25-07-2022 08:21:54+07:00

SHB launches scheme to offer interest rate cuts

The Saigon-Hanoi Commercial Joint Stock Bank (SHB) has launched a scheme to offer preferential loans to its customers with a 2-per-cent cut on interest rates.

 

The scheme is valid until December 31, 2023, with total decrements in interest rates amounting to VND710 billion (US$30 million). It is part of the Governmental support package of VND40 trillion financed by the State budget to boost economic recovery.

Under the scheme, the loans are accessible to borrowers specified in Decree 31 on interest rate cuts issued on May 20, 2022. The borrowers comprise firms, cooperatives and business households operating in prioritised sectors, including forestry, fishery, social housing and education.

Previously, Vietcombank, Agribank and OCB were among the first banks to announce support packages with a 2-per-cent interest rate cut. SHB followed suit on July 22. 

bizhub

RELATED STOCK CODE (2)

NEWS SAME CATEGORY

Techcombank posted US$601.5 million before-tax profit in H1
FINANCE Jul 25th at 08:20

Techcombank posted US$601.5 million before-tax profit in H1

Techcombank achieved before-tax profit of VND14.1 trillion (US$601.5 million) in the first half of the year, posting a 22.3 per cent year-on-year increase.

Banks more cautious with home loans
FINANCE Jul 25th at 08:19

Banks more cautious with home loans

Many banks have so far not only closed their doors to real estate development borrowers but also restricted loans to home buyers.

Bank of America to open branch in Ho Chi Minh City
FINANCE Jul 25th at 08:10

Bank of America to open branch in Ho Chi Minh City

Bank of America – the second largest bank in the US – has submitted an application to open a branch in Ho Chi Minh City with a capital of around $50 million.

Vietbank to issue 300,000 bonds
FINANCE Jul 23rd at 06:13

Vietbank to issue 300,000 bonds

Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank) will issue 300,000 bonds to the public with a face value of VND3 trillion (US$128.87 million) in three...

Better risk management needed to stem credit losses: report
FINANCE Jul 23rd at 06:12

Better risk management needed to stem credit losses: report

Adopting strong credit risk management strategies and tools plays an important role in protecting businesses against customers failing to pay, experts said.

About 60% of Vietnamese adults have bank account: Napas
FINANCE Jul 22nd at 13:24

About 60% of Vietnamese adults have bank account: Napas

The room for cashless payments in Vietnam is huge.

HSBC supports Techcombank to raise historic US$1 billion loan facility
FINANCE Jul 22nd at 13:19

HSBC supports Techcombank to raise historic US$1 billion loan facility

HSBC Bank (Vietnam) Ltd has co-operated with several other banks to provide Vietnam Technological and Commercial Joint Stock Bank (Techcombank), the fourth largest...

Extension of Circular 14 unneccessary: insiders
FINANCE Jul 22nd at 08:00

Extension of Circular 14 unneccessary: insiders

The expiration of Circular 14 on debt rescheduling and interest rates reduction in late June is likely to expose banks to higher levels of non-performing loans...

Cashless payment expands rapidly with e-commerce boom
FINANCE Jul 22nd at 07:58

Cashless payment expands rapidly with e-commerce boom

Cashless payments are expanding rapidly in Ha Noi, driven by the booming e-commerce industry, but experts say more can be done to increase digital spending.

BAC A BANK launches Kiosk Banking in Hanoi
FINANCE Jul 22nd at 07:55

BAC A BANK launches Kiosk Banking in Hanoi

From July 21, BAC A BANK officially operates its new service Kiosk Banking, which is also the lender’s first automatic transaction model in Hanoi.

Read More

Bank stocks

Insurance stocks

MOST READ

Back To Top