TPBank launches a preferential interest rate loan program worth VND 5000 billion

Responding to the policy of reducing lending interest rates of the State Bank of Vietnam, in order to maximally support individual and corporate customers to actively source capital, promote business at the end of the year as well as support the recovery process.

For socio-economic recovery and development, Tien Phong Commercial Joint Stock Bank (TPBank) announced the launch of a credit package of VND 5,000 billion with special preferential interest rates, of which up to VND 2,000 billion is reserved for priority limits for green development enterprises, export enterprises, women-owned enterprises from the WSME.

Specifically, the beneficiaries of incentives are enterprises in 5 priority fields, export, green development, women-owned enterprises, customers who use the bank's multi-services, etc. The dependent interest rate will be reduced by 1.5% - 2% compared to the normal interest rate. Especially for businesses owned by women, there will be an additional 0.2% reduction compared to the above incentive.

At the same time, TPBank also implemented a preferential interest rate program for individual customers for the purpose of serving production and business activities, whereby individual customers will enjoy a reduced interest rate. up to 2.5%/year above the interest rate applied in the loan interest rate table for the bank's secured business loan products.

A representative of TPBank said that in order to create favorable conditions for businesses to access this incentive package early, TPBank will support consulting, flexible procedures and documents in a way that is simple and shortens the time. TPBank hopes that this interest rate loan package will help businesses have more conditions to expand their business, develop production, and improve their competitiveness, especially export businesses. Especially in the last months of the year, businesses are accelerating to the finish line, the incentive package will "energize" businesses to fulfill business goals in 2022, promoting economic growth.

Agreeing with the Government's decisions to accompany customers, this is the second time in a row that TPBank offers a preferential credit package to corporate customers. Previously, in June 2022, TPBank was one of the pioneer commercial banks to implement the policy of supporting interest rates of 2%/year on the actual loan interest rates. This program, which lasts until December 31, 2023, focuses on supporting activities that use loans to implement projects to build social housing, housing for workers, and renovate old apartment buildings on the list projects synthesized and announced by the Ministry of Construction.

Financial statements for 9 months of 2022 show outstanding business results, safe and strong operating indicators. TPBank has completed 72% of the full-year profit target with accumulated pre-tax profit of VND 5,926 billion, an increase of VND 1,532 billion over the same period.

Asset quality, intrinsic strength, financial capacity are always at the top of the industry. With the pioneering in applying Basel III standards, the capital adequacy and liquidity indicators are strictly managed by the bank. That is also the reason why TPBank is one of the nine banks upgraded by Moody's as a good long-term issuer and depositor of local and foreign currencies. TPBank possesses good profitability and safe asset quality, solid capital base and high liquidity.


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