Deputy Director of the State Bank of Vietnam- Ho Chi Minh City Branch Nguyen Duc Lenh has just said that the credit package will provide new loans with preferential interest rates and reduce the interest rates of previous loans, notably loans in medium and long terms with high interest rates.
In addition, the program will also extend debt and maintain debt group for eligible organizations and individuals.
The credit package is under the Ho Chi Minh City bank – enterprise connection program 2024 with a purpose of supporting production and trade recovery after the Covid-19 pandemic in Ho Chi Minh City was under control.
Deputy Director of the State Bank of Vietnam- Ho Chi Minh City Branch Nguyen Duc Lenh informed that apart from the top big 4 Stated-owned commercial banks consisting of Vietcombank, Vietinbank, BIDV, Agribank and private-owned commercial banks comprising ACB, Sacombank, Nam A Bank, OCB and BVBank; foreign banks inlcuding Standard Chartered and Shinhanbank have joined the program to create differences and show the responsibilities of credit institutions in the city in implementing the policies and joining hands with enterprises.
As for the credit package this year, the commercial banks have registered with record amount so far, up 12 percent over 2023, added Mr. Lenh.
Accordingly, the credit package will provide new loans with preferential interest rates of four percent per year for the short term and around nine percent a year for the medium and long term in Vietnamese dong. The interest rates could be reasonably adjusted following the market development and support principles.
In order to continue to remove difficulties for enterprises in 2024 in accordance with the plan of the People’s Committee of Ho Chi Minh City, since the beginning of the year, the State Bank of Vietnam- Ho Chi Minh City Branch has built a plan to conduct the Ho Chi Minh City bank – enterprise connection program in 2024.
The plan aimed to implement in detail the connection program to give capital support to start-ups, small and medium enterprises in the city during the period of 2020 – 2025.
On the other hand, the program aimed at opening up credit capital sources, focusing credit flow on productivity, business activities and fields that are growth forces according to the policies of the Government and the State Bank of Vietnam, thereby contributing to promoting economic growth and society in 2024, achieving the plan and targets set by the city.
