Agribank offers businesses $887m credit package

The Viet Nam Bank for Agriculture and Rural Development (Agribank) has decided to provide a credit package worth VND20 trillion (US$887 million) with a preferential interest rate for businesses.

The fund targets business customers on the occasion of the upcoming Independence Day (September 2) with a maximum annual interest rate of 5.5 per cent.

The programme is aimed at providing short-term mobile loans for businesses' production and trade projects and mid- and long-term loans for implementing their investment projects.

The fund is available for businesses between August 21 and December 31.

Agribank is the largest commercial bank in Viet Nam in terms of total assets, liabilities, branch networks and number of employees. By the end of April, the bank's total capital in the market reached more than VND720 trillion ($31.9 billion), while total loans reached more than VND560 trillion ($23.9 billion).

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