Vietnam Leading Bank Adds VND3 Tln to Loan Small, Medium Businesses

3:25:44 PM | 1/10/2008

The Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank), the country’s seventh biggest banks by assets, has just injected an additional VND3 trillion (US$181.8 million) to loan small and medium enterprises this year.

Vietcombank sees SMEs a good and potential clients to funnel their cash.

Currently, loans for SMEs account for 22 per cent of its total loans.

From Oct 1 this year, Vietcombank will cut lending rates of ordinary loans to 19.5 per cent per annum, to 18.525 per cent per annum for its traditional borrowers.

Vietcombank joins hand with local big banks to cut lending rates after the central bank has decided to increase interest rates of bank reserves to 5 per cent. (SBV)

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Vietnam Leading Bank Adds VND3 Tln to Loan Small, Medium Businesses

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