Branches of five commercial banks and 11 enterprises in HCM City on July 9 signed a credit agreement whereby the lending interest rate will be at 12-13 percent per year.
Particularly, branches of five commercial banks namely Bank for Investment and Development of Vietnam (Bidv)’s North Saigon branch, Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB)’s Tan Binh branch, Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank-CTG)’s Tan Binh branch, Vietnam Bank for Agriculture and Rural Development (Agribank)’s An Phu branch and 11 enterprises in Tan Binh district signed this credit contract.
Accordingly, banks will provide credit for 11 firms operating in sectors of garment and textile, healthcare, pharmaceutical, plastics, chemicals and export with a total amount of 92.6 billion dong (the lowest loan would be one billion dong for one firm and the highest would be 24 billion dong) at the highest lending interest rate of 13 percent per year and the lowest lending rate of 12 percent per year.
Witnessing the signing ceremony, Nguyen Thi Hong, vice chair of HCM City People’s Committee, said that accessing bank loans with reasonable interest rates is one of the major difficulties of enterprises currently, therefore this credit contract to support small and medium sized enterprises (SMEs) is very meaningful, helping companies maintain and develop business and production activities in the current difficult conditions.
Pham Khac Phong, director of Nam Phong Textile Materials Co, said with this lending interest rate, it is surely that enterprises will partly reduce financial burden to organise business and production activities as planned.