The BIDV continues to lower its lending interest rates to promote exports and support rural development.
Exporters with credit ratings of A or above can borrow from the BIDV at the maximum interest rate of 15% per year, said the BIDV.
The maximum rate on loans for agricultural and rural development, as well as small- and medium-sized enterprises, is set at 15.5%.
The BIDV is also offering preferential loans for disaster relief at the maximum rate of 14.5%.
This is the fifth time in four months that the BIDV has cut its VND lending rates. Earlier in August, the lender reduced its interest rates to below 20% in a move to boost economic activities.
The BIDV also announced the selection criteria for a foreign partner that will hold a 15% stake in the newly equitised bank.
The selection process will be advised by US financial services firm Morgan Stanley. So far, over 40 international financial institutions have expressed interest in investing in BIDV when the bank is equitised.
The State-run lender will begin selling its shares in the first initial public offering (IPO) at the end of December 2011.