VIB Bank Targets SMEs

In October 2006, the Vietnam International Bank (VIB Bank) opened four more offices in An Giang, Vung Tau, Quan Hoa (Hanoi) and Vinh (Nghe An province). The branches will focus on providing loans for local small and medium-sized enterprises (SMEs) operating in seafood processing, services and tourism. They also provide loans for households and individuals who need capital for their production and business activities and house repair. It is expected that in the end of 2006, VIB Bank will open eight more branches, thus bringing its total of branches to 60.

 

By late September 2006, total assets of the VIB Bank had reached more than VND 13 billion, equal to 86 per cent of the yearly plan. It had mobilised around VND 12 billion, equal to 89 per cent of the yearly plan. Its loans had been put at VND 8 billion, equal to 65 per cent of its yearly plan.