Transactions at SHB. The bank will launch a 2.5 trillion VND (109.9 million USD) credit package with preferential interest rate from 6.5 percent per year for small- and medium-sized enterprises. (Photo: VNA)Hanoi (VNA) – The Saigon Hanoi Commercial Joint Stock Bank (SHB)recently announced that it will launch a 2.5 trillion VND (109.9 million USD)credit package with preferential interest rate from 6.5 percent per year forsmall- and medium-sized enterprises (SMEs).
Thepackage will be divided into two programmes, “Giving strength to business” and“Quick financing by area”.
The “Giving strength to business” programme targets businesses in 17industries, including medicine, pharmaceutical chemistry, rubber, plastic,fertiliser, electronics, communication equipment, garment and textile, footwearand farm produce. Loans are mostly short terms, at less than six months,designed to help firms promote production and business activities in the lastmonths of the year.
Meanwhile, the “Quick financing by area” programme is built based on specific socio-economicsituations of the Southeast, South central, Mekong Delta, Central Highland,North central and Red River Delta regions and Ho Chi Minh City. SMEs in thoseregions are able to access to loans at the minimum interest rate of 6.5 percentfor terms of up to 12 months.
According to SHB General Director Nguyen Van Le, SMEs are among targeted customersof SHB in the bank’s development strategy. The bank has designed a line-up ofpreferential programmes and initiatives to back this group of firms, includingfinancial consultancies, helping businesses seek customers and market, loanrestructuring and enterprise shake up.
The solutions have increased SHB’s credit quality while boosting SMEdevelopment in Vietnam.-VNA
VNA
