The State Bank of Vietnam will keep the prime rate unchanged at eight percent at least through next month as part of the ongoing effort to help commercial banks lower lending interest rates.
The refinancing and overnight rates also will remain at eight percent and the discount rate at six percent.
The central bank is continuing to allow banks to negotiate commercial lending interest rates, but the Government has ordered commercial banks to cap lending rates at 12 percent and deposit rates at 10 percent in order to help enterprises access credit.
Prevailing loan rates now range at 12-15.5 percent per year.
At a meeting on June 25 with the central bank and the Vietnam Banking Association (VNBA), representatives of 10 major banks committed to the Government directive in order to get more effective use of capital and improve profit margins.
Agribank, Mekong Housing Bank, Vietcombank and a few other banks were already charging 12-12.5 percent to priority borrowers targeted by the Government, including companies operating in agricultural production, exporters, and small- and medium-sized enterprises./.
The refinancing and overnight rates also will remain at eight percent and the discount rate at six percent.
The central bank is continuing to allow banks to negotiate commercial lending interest rates, but the Government has ordered commercial banks to cap lending rates at 12 percent and deposit rates at 10 percent in order to help enterprises access credit.
Prevailing loan rates now range at 12-15.5 percent per year.
At a meeting on June 25 with the central bank and the Vietnam Banking Association (VNBA), representatives of 10 major banks committed to the Government directive in order to get more effective use of capital and improve profit margins.
Agribank, Mekong Housing Bank, Vietcombank and a few other banks were already charging 12-12.5 percent to priority borrowers targeted by the Government, including companies operating in agricultural production, exporters, and small- and medium-sized enterprises./.
