Capital contribution to SMEs credit guarantee funds
The State Bank of Vietnam (SBV) on October 3 informed credit organisations nationwide of regulations on contributing capital to credit guarantee funds for small- and medium-sized enterprises (SMEs). Accordingly, each bank can contribute to a SMEs credit guarantee fund an amount of money equalling no more than 6% of the fund’s chartered capital. The rate for non-banking credit organisations is no more than 10%.
The total capital contribution and stake of a bank in all SMEs and SME credit guarantee funds cannot exceed 30% of the bank’s chartered capital and reserve. The rate for non-banking credit organisations is up to 40%.
