The banking sector is aggressively cutting interest rates, standing

Mr. Pham Linh, Standing Deputy General Director of Vietnam Thuong Tin Commercial Bank (Vietbank): Prioritizing capital for production and business and priority sectors.

– Following the Prime Minister ‘s directive on adjusting and reducing lending interest rates for production and business sectors and priority areas, Vietbank proactively implemented solutions to support customers in accessing capital at reasonable costs through diverse preferential credit programs, developing loan products, and waiving or reducing service fees according to policies in each period. From October 19th, Vietbank reduced deposit interest rates for terms over 6 months by 0.5%. Simultaneously, it launched a preferential credit package worth over 3,000 billion VND with lending interest rates at least 1.5% lower per year than the normal lending rates for the same term at Vietbank. The program is valid until June 30th, 2027, or until the limit is reached, targeting small and medium-sized enterprises, export businesses, supporting industries, and businesses investing in industrial park and cluster infrastructure.

In the coming period, VietBank will continue to expand its customer reach, prioritizing capital for production and business activities and priority sectors; improve credit granting processes, enhance service quality, apply technology, and strengthen risk control, aiming for safe, efficient, and sustainable credit growth.

Customers conducting transactions at Agribank Thot Not Branch, Can Tho.

Mr. Pham Quy Thinh, Director of the Vietnam Agricultural and Rural Development Bank (Agribank) Can Tho Branch: Ready to approach and support large projects.

– In the first nine months of the year, Agribank implemented nine preferential loan programs with a total outstanding loan balance of VND 670 billion at Agribank Can Tho Branch. Of this, the outstanding loan balance for large enterprises, state-owned enterprises, and import-export enterprises was VND 216 billion. The preferential interest rate credit package currently applied to customers classified as 2A according to Agribank’s internal rating criteria (the highest evaluation criterion) and belonging to priority sectors is a short-term loan interest rate of 5.5%/year, with a loan term of 5-6 months. For medium- and long-term preferential financing for projects, Agribank Can Tho Branch is also considering granting credit at an interest rate of 8%/year. In addition, the branch also implemented many preferential loan programs for individual customers with a total outstanding loan balance of VND 454 billion.

Agribank Can Tho Branch consistently strives to implement comprehensive business solutions, expanding credit while simultaneously controlling quality, improving customer service, and ensuring system safety. The branch has also approached and collaborated on co-financing plans for factory projects in industrial zones within the city. These activities demonstrate a readiness to approach large-scale projects, while also…