Vietcombank may loan 426m USD to Petrolimex

Vietcombank officially received permission on August 15 from the governor of the State Bank of Vietnam to loan to Petrolimex-related companies at the maximum level.

The beneficiaries are Region 2 Petrol and Oil Company, Petrolimex Import-Export Joint Stock Company (JSC), Nghe Tinh Transport and Service JSC, VITACO Gasoline Transport JSC, Gas Petrolimex JSC, Petrochemical JSC and Petrolimex. They will be entitled to loans of up to 7.1 trillion VND (426 million USD), accounting for 61 percent of Vietcombank’s own capital.

The bank will also be able to offer and act as guarantor for the group for loans of up to 15.6 trillion VND (936 million USD), equal to 134.13 percent of the bank’s self-contained capital. The loan level will only apply to imported gasoline and oil amounts set by the Ministry of Industry and Commerce.

VNA

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