ABBank Further Cuts Lending Rate for Enterprises

The An Binh Commercial Joint Stock Bank (ABBank) officially applied a new lending rate benchmark with a reduction of 2-2.5 per cent compared to the previous benchmark from December 1, 2008. Particularly, the Vietnam dong lending rate stayed at 14-14.75 per cent per annum and while USD loan was set at 7.5-8 per cent per annum. For regular customers using many services of ABBank, the preferential lending rate will be at 13.75 per cent per annum.

 

Besides, the bank is carrying out an export support programme in VND with the interest rate applied to US dollar, fixed at 7-7.5 per cent per annum.

 

Together with the cut of the lending rate, the lender has also decreased the deposit interest rate. At present, ABBank is applying the deposit rate at 10 per cent for three-month term deposit, 10.3 per cent for six-month, 11 per cent for nine-month and 10.6 per cent for 12-month. ABBank's highest deposit rate is now at 11 per cent per annum.