Business

First bank reduces loan interest rates in 2018

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) said it will continue reducing its loan interest rates for five groups of prioritised borrowers in 2018.
First bank reduces loan interest rates in 2018 ảnh 1A chicken egg production line of Ba Huan company, funded by Vietcombank (Source: VNA)

Hanoi (VNA)- The Joint Stock Commercial Bank for ForeignTrade of Vietnam (Vietcombank) said it will continue reducing itsloan interest rates for five groups of prioritised borrowers in 2018 inaccordance with Circular No. 39/2016/TT-NHNN dated December 30, 2016 of theState Bank of Vietnam (SBV).

Vietcombank is thefirst commercial bank to announce its plan to lower loan interest rates as partof activities to implement the Prime Minister’s Resolution No. 01/NQ-CP issued onJanuary 1, 2018, and the SBV Governor’s direction.

Accordingly, interestrates for short-term loans in Vietnamese dongs will be no higher than 6 percentper year, applied for those who need capital for a number of economic sectors.

The targeted groups arethose who use loans for agricultural and rural development, exports, small- andmedium-sized enterprises, supporting industry, and those using high technology.

The preferentialinterest rates will be applied from January 15 to December 31, 2018.

Over the past years, Vietcombankhas continuously launched preferential short-term and long-term loans fornecessary economic and social welfare projects, such as hi-tech and cleanagriculture, clean water supply, exports, supporting industry, and healthdevelopment.-VNA
VNA
#Vietcombank #State Bank of Vietnam #loan interest rates #Prime Minister #Vietnam News #Vietnam News Agency #Vietnam Government #Vietnamese latest news
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