HCM City: Banks provides some 570 billion VND of low interest capital to businesses

Photo for illustration

Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam’s branch in Ho Chi Minh City on February 27, said that through the bank-business connection program, 13 commercial banks in the city registered the preferential credit package with a scale of 434.280 trillion VND.

This shows that the program brought practical benefits to businesses when accessing credit capital with low lending interest rates at short-term VND loans of about 6% a year and medium and long-term loans of about 10% a year.

According to Mr. Lenh, the disbursed money to support businesses and business households in 2022 increased thanks to the efforts, responsibility and sharing of credit institutions in the city.

Specifically, the State Bank of Vietnam’s branch in Ho Chi Minh City has coordinated with the Department of Industry and Trade, the People’s Committees of districts and Thu Duc City to organize a program to connect banks and businesses under the theme of supporting agricultural and rural development; supporting businesses in the field of tourism and businesses operating in industrial parks and export processing zones.

The event has brought about high efficiency, pervasiveness and is highly appreciated by the business community.

Lenh also said that within the framework of this program, in 2022, the city's banking industry has coordinated with the Department of Tourism, the Department of Agriculture and Rural Development and districts and Thu Duc City to organize 12 events connecting banks and businesses, and solve dificulties for 938 businesses that need capital./.