Over VND240 trillion credit for enterprises in Ho Chi Minh City

Publish date
19/01/2017

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Over VND240 trillion credit for enterprises in Ho Chi Minh City

On 10 January 2017, BIDV and 14 other commercial banks announced a preferential credit package worth over VND240 trillion (USD10.7 billion) for enterprises in the area of Ho Chi Minh City.

​The credit signing ceremony took place in the framework of a conference on connecting banks and enterprises, as part of the Banks - Enterprises Link Programme. The credit package offers short-term lending rates not exceeding 7 percent per year and medium and long term rates between 8 and 10 percent per year.

Mrs. Nguyen Thi Thu, on behalf of Ho Chi Minh City People’s Committee, noted her appreciation of the Banks - Enterprises Link Programme 2016. Through the programme, total loans reaching more than VND281 trillion were provided to 21,920 enterprises, an increase of 60 percent against 2015 and equivalent to the loan disbursement of the last four years.

Following the direction of the State Bank of Vietnam – HCM City Branch, in 2016 BIDV registered a credit package of VND60 trillion with preferential lending rates. As of 31 December 2016, total disbursements by BIDV branches in HCM City of approximately VND30 trillion were made to more than 400 enterprises, up 9 percent compared with 2015.

Besides providing capital to businesses, the programme focuses on high-tech agricultural enterprises, enterprises which began as household businesses, and start-ups. Currently BIDV is active in designing agenda and seminars on connecting banks and enterprises to provide modern banking products and services, and comprehensive insurance and financial solutions to enterprises.

The Banks - Enterprises Link Programme for 2017 has received the participation of 14 commercial banks as well as one foreign bank with registered credit size of VND241,101 billion and USD10 million. BIDV alone registered VND60,000 billion which will be disbursed through all of its 36 branches in the city.

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