Hanoi (VNA) – The Vietnam Bank for Agriculture and Rural Development (Agribank)has decided to cut interest rates for short, mid and long-term loans in fivepriority fields, starting from May 13.
The move is in line with the State Bank of Vietnam’sCircular No.39/2016/TT-NHNN.
Specifically, short-term lending rate stands at a maximum of5 percent per year while mid and long-term rates are at least 7.5 percent.
It is the bank’s second interest rate reduction in less thantwo months in order to offer fiscal support and recover the economy following theCOVID-19 pandemic./.
Banks sell mortgaged assets to resolve bad debts
Many banks in Ho Chi Minh City are selling their mortgaged assets, mainly properties worth trillions of Vietnamese dong, to speed up the resolution of bad debts.