Vietinbank to issue bills of exchange
06-SEP-2008 Intellasia | Thoi Bao Kinh Te Vietnam page 2
Sep 6, 2008 - 7:00:00 AM
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From September 5 to November 5, Vietnam Commercial and Industrial Bank (VietinBank) would issue short-term bills of exchange for the second phase of 2008.
These bills of exchange will be issued under the book entry model with the minimum face value of one million dong and terms of 4, 5, 6 and 7 months.
The coupon rate of these bills will be 0.5-0.7% per annum higher than Vietinbank's interest rate benchmark as for all domestic and foreign individuals and institutions.
Earlier, the bank also launched the "saving with flexible principal withdrawal" product with terms of 6, 9, 12, 18, 24 and 36 months whereby depositors can withdraw a part of principal before due with real interest rates equalling to the corresponding term interest rates. The remaining principal will enjoy the initial interest rates.
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