HCMC – BIDV, Vietcombank, Vietinbank and Agribank will provide over VND92 billion worth of loans with preferential interest rates of 12-13% per year to 11 small and medium enterprises (SME) in HCMC’s Tan Binh District.
Banks to give city firms preferential loans
By Thanh Thuong - The Saigon Times Daily
HCMC – BIDV, Vietcombank, Vietinbank and Agribank will provide over VND92 billion worth of loans with preferential interest rates of 12-13% per year to 11 small and medium enterprises (SME) in HCMC’s Tan Binh District.
This is the content of credit support contracts signed on Monday at the ceremony held by the HCMC government and the central bank’s HCMC branch.
Nguyen Hoang Minh, deputy director of the central bank’s branch in HCMC, said this was one of the first steps in a series of activities to connect the HCMC-based SMEs and lenders in order to remove difficulties for enterprises. After Tan Binh District, Phu Nhuan District will be the next to receive credit support, he added.
The statistics of the central bank’s HCMC branch show that over VND20 trillion was disbursed to some 4,200 enterprises in June, with lending rates of 12-12.5% per annum.
HCMC vice chairwoman Nguyen Thi Hong said the city would continue to take measures to help enterprises access bank loans in the rest of the year. She asked enterprises in need of loans to contact professional associations, where their names will be listed and sent to the HCMC Department of Industry and Trade, before transferred to commercial banks.
However, Hong stressed enterprises must operate properly and try to timely repay their debts so that they will not become bad debts, affecting the operations of banks.
Meanwhile, Minh said the central bank’s branch would urge lenders in HCMC to restructure old debts as it was requested that interest rates for old loans must be brought down to below 15% before July 15.