Sacombank to offer $1.72 billion under loan subsidy program 

Saigon Thuong Tin Commercial Joint Stock Bank plans to lend VND30 trillion (US$1.72 billion) at subsidized interest rates under the government’s economic stimulus package, General Director Tran Xuan Huy said Monday.

Sacombank, as the Ho Chi Minh City-based lender partly owned by ANZ is known, would lend to companies at as low as 1.5 percent a year, he said.

The government plans to use VND17 trillion ($1 billion) from the stimulus package to subsidize loans after the economy expanded last year at the slowest pace since 1999.

Asia Commercial Bank, the biggest publicly traded company, said it has earmarked VND35 trillion ($2 billion) for the subsidy program.

Vietnam Technological & Commercial Joint-Stock Bank (Techcombank), partly owned by HSBC Holdings Plc, also plans to lend VND50 trillion at rates as low as 5 percent.

 Hoang Uy

Thanh nien

>   20/02/2009, record date for bond coupon payment CP071210 (10/02/2009)

>   20/02/2009, record date for bond coupon payment CPB0810016 (10/02/2009)

>   18/02/2009, record date for bond coupon payment TP1_0206 (10/02/2009)

>   18/02/2009, record date for bond coupon payment CPD0810017 (10/02/2009)

>   18/02/2009, delisting date of Government bond CP1_0204 (10/02/2009)

>   18/02/2009, record date for bond principal & coupon payment CP1_0204 (10/02/2009)

>   18/02/2009, delisting date of Government bond CP1A0104 (10/02/2009)

>   18/02/2009, record date for bond principal & coupon payment CP1A0104 (10/02/2009)

>   Exchange rate now serving as the barrier for export: Expert (10/02/2009)

>   Ministry delays new personal income tax law (10/02/2009)