The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) said it will continue reducing its loan interest rates for five groups of prioritised borrowers in 2018 in accordance with Circular No. 39/2016/TT-NHNN dated December 30, 2016 of the State Bank of Vietnam (SBV).

 

Vietcombank is the first commercial bank to announce its plan to lower loan interest rates as part of activities to implement the Prime Minister’s Resolution No. 01/NQ-CP issued on January 1, 2018, and the SBV Governor’s direction.

 

Accordingly, interest rates for short-term loans in Vietnamese dongs will be no higher than 6 percent per year, applied for those who need capital for a number of economic sectors.

 

The targeted groups are those who use loans for agricultural and rural development, exports, small- and medium-sized enterprises, supporting industry, and those using high technology.

 

The preferential interest rates will be applied from January 15 to December 31, 2018.

 

Over the past years, Vietcombank has continuously launched preferential short-term and long-term loans for necessary economic and social welfare projects, such as hi-tech and clean agriculture, clean water supply, exports, supporting industry, and health development.-VNA