Friday, March 29, 2024 8:43:24 PM - Markets open
VN-INDEX 1,284.09 -6.09/-0.47%
HNX-INDEX 242.58 -1.33/-0.55%
UPCOM-INDEX 91.57 +0.09/+0.10%
VPBank receives loans from large financial institutions, affirming its reputation
Vietnamnews - 11/29/2022 4:02:26 PM
 (0 ratings. You must sign in to rate.)
The International Finance Corporation (IFC) has completed the disbursement of a loan worth nearly VNĐ3.7 trillion (US$150 million) to Vietnam Prosperity Joint Stock Commercial Bank (VPBANK) to promote projects which would create sustainable value for the business community and the economy.
 
The loan with a five-year term would help VPBank to have more resources to meet the urgent credit needs of small and medium-sized enterprises (SMEs), women-led enterprises and projects in environment protection and climate change response in Việt Nam.
 
In the context that the world economy and Việt Nam are facing a number of difficulties and challenges, IFC’s disbursement of the $150 million loan to VPBank affirmed the bank’s capacity and reputation in the international arena.
 
As a dynamic, innovative, and creative bank, VPBank was constantly looking for international capital sources at reasonable costs in order to meet the credit demand for investing in production and business of corporate customers, especially SMEs which accounted for 90 per cent of the number of firms across the country, thereby joining hands with the Government to stabilise the market and promote post-pandemic growth.
 
The cooperation between VPBank and IFC began many years ago with many loans worth hundreds of millions of US dollars disbursed to the bank.
 
Specifically, within the framework of the financing programme for pandemic-hit businesses, IFC provided a loan of $100 million to VPBank in 2020, which helped the bank increase liquidity and continue disbursements of new loans for corporate customers while extending the repayment deadlines for enterprises.
 
Also in 2020, IFC and other international co-sponsors granted VPBank green credit worth $212.5 million, opening a pioneering opportunity in lending for green projects of banks in Việt Nam.
 
Notably, VPBank inked a syndicated loan agreement worth $500 million in November with five prominent financial institutions. Those included the Asian Development Bank, Sumitomo Mitsui Banking Corporation, Japan International Cooperation Agency, ANZ Bank, and Maybank Securities Pte. Ltd. – a member of Maybank Investment Banking Group. — VNS
 
Read original article here
Newer News
28/03 Deposit interest rates to remain low until mid-2024: analysts
20/03 Central bank required to take urgent measures to stabilise gold market
20/03 Banks given advantages to CASA ratio
18/03 Việt Nam to revise gold market regulations: amendments to Decree 24/2012/NĐ-CP underway
18/03 Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
15/03 PM urges further rate cuts, improved credit access to remove obstacles, promote growth
14/03 Insurance premium revenue rebounds in the first two months
14/03 Foreign exchange rate cools after central bank’s intervention
14/03 Lukewarm reception for VNĐ120 trillion credit package
14/03 Banks remain reluctant in disclosing interest rates
Older News
29/11 Banks gain big profits from forex trading
29/10 Most banks expect better business performance in 2022
24/10 Challenges for banks in recovering bad debts
13/10 Increased pressure to raise interest rates
07/10 Investors warned of the possibility of corporate bond default
28/09 Commercial banks raise deposit rates after SBV’s adjustment
28/09 Foreign investment disbursement hits record high in nine months
23/09 Reference exchange rate up 8 VND
17/09 MoF proposes to reduce fees by up to 50 per cent to support transport sector
14/09 Reference exchange rate up 13 VND on Sept 14
 
Newsletter Signup
Top Stories
Shares sustain gains on strong investor confidence
Banks given advantages to CASA ratio
Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
VN-Index corrects, liquidity stays high
Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,284.09 -6.09/-0.47%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.