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Vietinbank cuts lending rates
The Vietnam Bank for Industry and Trade (Vietinbank) has become the last State commercial bank to reduce lending interest rates.
Vietinbank on July 21 cut annual lending interest for Vietnamese dong loans by 0.5 percent to 20.5 percent, and for US dollar loans by 2 percentage points to 8.5 percent.
However, the rates are only offered to traditional priority clients using Vietinbank’s package banking service who are involved in key Government projects, processing and supplying agro-forestry and seafood products, manufacturing essential goods for domestic demands, and importing petrol or gas, medicine and materials for production.
This is the second time in July Vietinbank has cut lending interest rate for US dollar loans.
Vietinbank hopes that the move will help its clients stabilise production and export activities, thus contributing to inflation control, macro-economic stabilisation and sustainable economic growth rate.
VNA
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