Agribank reduces lending interest rates for SMEs

The Bank for Agriculture and Rural Development of Vietnam has announced a reduction in its lending interest rates for small and medium-sized enterprises and production households, its traditional clients.

Accordingly, the lending interest rate for agricultural, fisheries and forestry production households and enterprises is 14.4% a year. The rate for enterprises operating in production and exports is 15% a year.

The new lending rates will be valid from today, November 10.

Within five days after the governor of the State Bank of Vietnam decided to reduce the prime rate to 12% a year, Agribank has twice reduced its lending interest rates for more than 10 million households and over 30,000 agricultural and rural enterprises.

Nhan Dan

>   Vietinbank gets international recognition (10/11/2008)

>   Local banks look to strengthen home base (10/11/2008)

>   Greenback held down, but up on blackmarket (08/11/2008)

>   1.2 trillion VND added to bauxite project (09/11/2008)

>   Gold bounces on weaker dollar, physical buying  (08/11/2008)

>   Dong continues drop toward 17,000 mark  (08/11/2008)

>   Global finance may enter world of zero interest  (08/11/2008)

>   Banks promise to sell dollars below VND17,000/US$1 (07/11/2008)

>   Central bank chief expects banks to lend more  (07/11/2008)

>   Capital shortage strangles property firms  (07/11/2008)