Six commercial banks on Tuesday signed loan agreements worth more than VND255 billion (US$12.14 million) with 17 enterprises and four households in District 11.—Photo cafef

HCM CITY (Biz Hub)— Six commercial banks on Tuesday signed loan agreements worth more than VND255 billion (US$12.14 million) with 17 enterprises and four households in District 11.

Joining the lending spree was Sacombank with VND50 billion ($2.38 million) lent to 11 businesses and one household at annual interest rates of 9 per cent and up.

The other five banks that signed the low-interest loan agreements are Vietinbank, BIDV, DongA Bank, Eximbank, and LienVietPostBank.

Dao Nguyen Vu, deputy general director of Sacombank, said the banks were determined to support businesses in accessing capital so that they could reduce inventories and increase production and trading in challenging times.

This would help the businesses continue to develop in the coming years, he said.

Since the beginning of this year, Sacombank has implemented 15 preferential credit packages worth VND1.7 trillion ($80.95 million) and $105 million to support businesses and individuals following policies issued by the Government and the State Bank of Viet Nam, he said.

Besides, to support businesses who join the city's price stabilisation programme for 2013 and the Lunar New Year 2014, Sacombank will set aside VND200 billion ($9.5 million) to be lent at preferential interest rates of 6 per cent and up per year, Vu said.

Tuesday's signing ceremony was chaired by the HCM City branch of the central bank, the city's Department of Industry and Trade and the District 11 People's Committee. — VNS