VPBank offers preferential loans

Viet Nam Prosperity Bank (VPBank) is offering a preferential programme for small and medium-sized enterprises (SMEs) with the aim of helping them access loans for production and business.

Under the SME Success 2015 programme, which is running from August 24, 2015, to February 24, 2016, the bank will lend SMEs up to VND2 trillion (US$88.8 million) at preferential interest rates of 1.8 to two per cent less than the normal rate. The programme will reportedly help importers to take advantage of the low-cost loans for their operations during the last few months of the year.

In addition, SMEs can also access preferential loans in US dollars for an average annual interest rate of 3.2 per cent. The loans are expected to help local firms in import-export payments.

A VPBank representative said they hoped the programmes would give support to businesses' production and trade activities based on low-cost loans at special preferential rates.

bizhub

>   Economists deny prediction about additional 2% VND devaluation (16/09/2015)

>   Changes reported in banks' charter capital (16/09/2015)

>   More changes in DongA Bank's management positions (15/09/2015)

>   VN unlikely to loosen lending (15/09/2015)

>   Ministry discusses customs, taxes with S Korean firms (15/09/2015)

>   Further suspensions at Dong A Bank (14/09/2015)

>   Banks cut non-performing loans (14/09/2015)

>   Ministry may adjust tariff rates (14/09/2015)

>   Resources tax increase meets resistance (14/09/2015)

>   VN’s public debt may increase by VND20 trillion due to exchange-rate fluctuations (14/09/2015)