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Banks disburse over 93 trillion VND in subsidised loans
Eighty-five banks, participating in the Government’s interest rate subsidy programme, extended loans totaling more than 93 trillion VND to individuals and organisations in February, the State Bank of Vietnam has reported.
This sum included 72.62 trillion VND from State commercial banks, 18.85 trillion VND from joint stock commercial banks, and the remaining 1.54 trillion VND from foreign banks and joint venture banks.
According to the State Bank of Vietnam (SBV), the Government’s interest rate subsidy programme is a stimulation measure, suitable to the requirements of the national economy.
The programme has given practical assistance to organisations and individuals, helping them to weather the current financial storm, while assisting commercial banks in addressing trapped capital and expanding the scope of their credit programmes and customer bases.
The SBV has supervised commercial banks’ execution of the scheme to ensure it has been carried out smoothly, openly, and transparently.
The banking regulator affirmed that the freezing of deposit interest rates at an appropriate level has helped to stabilise the monetary market.
“The monetary market and interest rates continue to be stable,” noted an SBV spokesman./.
Vietnamplus
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