VP Bank decreases lending interest rate

Vietnam Prosperity Commercial Joint Stock Bank (VP Bank) on March 1 announced a decrease in lending interest rate by a maximum 2 per cent per annum from March 2012.

A customer makes a transaction at a branch of VPbank in HCMC

In addition, VP Bank will offer a preferential credit package worth VND5 trillion, at 3 per cent lower interest rate than normal. The loan will be used for agricultural development in rural areas, exports and manufacturing sector.

The offer will be valid for six months and available at all VP Bank branches nationwide.

In 2011, VP Bank consolidated its pre-tax profits, estimated at VND1.06 trillion, an increase of about 60 per cent from 2010.

Earlier, several big banks such as VietinBank, Vietcombank, BIDV, Agribank and VIB also announced a reduction in lending interest rates.

By B.Minh – Translated by T.Huong

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