10:08 | 02/10/2017 Finance - Banking
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 for small- and medium-sized enterprises (SMEs).
|Transactions at SHB - Photo: VNA|
The package will be divided into two programmes, “Giving strength to business” and “Quick financing by area”.
The “Giving strength to business” programme targets businesses in 17 industries, including medicine, pharmaceutical chemistry, rubber, plastic, fertiliser, electronics, communication equipment, garment and textile, footwear and farm produce. Loans are mostly short terms, at less than six months, designed to help firms promote production and business activities in the last months of the year.
Meanwhile, the “Quick financing by area” programme is built based on specific socio-economic situations of the Southeast, South central, Mekong Delta, Central Highland, North central and Red River Delta regions and Ho Chi Minh City. SMEs in those regions are able to access to loans at the minimum interest rate of 6.5 percent for terms of up to 12 months.
According to SHB General Director Nguyen Van Le, SMEs are among targeted customers of SHB in the bank’s development strategy. The bank has designed a line-up of preferential programmes and initiatives to back this group of firms, including financial consultancies, helping businesses seek customers and market, loan restructuring and enterprise shake up.
The solutions have increased SHB’s credit quality while boosting SME development in Vietnam.