MBBank would continue to provide loans of total VND20 trillion with preferential interest rate to SMEs. — Photo cafef.vn

The Military Commercial Joint Stock Bank (MB Bank) provided credit support to more than 1,000 small-and-medium sized enterprises (SMEs) with total capital of VND5 trillion (US$220 million) in the first nine months of the year.

Ha My Hanh, deputy director of MBBank’s SMEs department, said the bank would continue to provide loans of total VND20 trillion with preferential interest rate to SMEs while developing new credit products for the firms with flexible guarantee assets in the future.

Hanh said MB had effectively implemented the connecting businesses and bank programme by reducing interest rate by 1-1.5 per cent per year in comparison with the normal interest rate for SMEs. Interest rates have been less than six per cent and eight per cent a year for short-term and mid-term loans.

In addition, the bank has launched preferential products and policies for prioritised sectors, including agriculture, rural development, exports, support industry and startups.The programme has been continuously implemented since 2012. MB has committed to provide maximum supports to SMEs. It will also have solutions to resolve businesses’ difficulties in accessing the bank’s loans for their production. — VNS