Commercial banks lower loan interest rates

Following the State Bank of Vietnam cut the interest rate of short-term loan for some prioritized sectors, commercial banks in Ho Chi Minh City have reduced loan interest rates.
 
Vietnam Bank for Agriculture and Rural Development, or Agribank, offers the interest rate of 6.5 percent a year for short-term loans and 8 percent for medium and long-term ones for prioritized people as per the circular 39/2016/TT-NHNN from July 10.
Additionally, Agribank continued to cut its activity expenses to improve business and then lower loan interest rate for special sectors and lower fees in a bid to share difficulties with customers.
Meantime, VPBank also announced a decreased loan interest in short term for small and medium enterprises (SME); accordingly, short term loans for SME will go down by 0.5-1 percentage points. The new interest rate will be applied from July 10.
Since July 8, LienVietPostBank cut 0.25 percentage point for loans of all terms for enterprises with healthy activities.
Moreover, some prioritized sector will enjoy interest rate of 6 percent a year for short-term loans which 0.5 percentage point lower than the government’s the interest rate ceiling.

By HAM YEN - Translated by UYEN PHUONG

Other news

Most view

Aeon Mall in Tan Phu district, HCMC (Photo: SGGP)

Hai Phong city speeds up Aeon Mall project

Hai Phong city’s Investment, Commerce and Tourism Promotion Center, Aeon Mall Vietnam Company and Viet Phat Import Export Trading Investment Company have co-signed an agreement to speed up the progress of Aeon Mall Hai Phong project.

Banking-finance

Economy

Committee reviews marine economy

The National Assembly (NA) Standing Committee yesterday reviewed the development of the marine economy along with national defence and security in 2011-16.
 

Self - introduction

Stock market

SMC buys 2mln shares of Nam Kim Steel

SMC Investment & Trading JSC (SMC)'s shareholders have approved plan to buy 2 million shares of Nam Kim Steel Corp (NKG), priced at VND 27,000 per share in September.