Sacombank gets licence for interest rate derivative products

Wednesday, Mar 02, 2022 14:12

A transaction at a Sacombank branch. Sacombank gets nod from the State Bank of Vietnam to begin trading in and providing interest rate derivative products. — Photo courtesy of the bank

Sacombank has received approval from the State Bank of Vietnam to trade in and provide interest rate derivative products.

The products will assist customers in hedging against adverse fluctuations in interest and exchange rates on loans, especially with medium- and long-term tenors.

In addition, interest rate swaps are also a solution to help customers reduce capital mobilisation costs when switching from a high to a lower interest rate currency.

Customers can also use interest rate derivatives to protect their profits against adverse market movements.

After 30 years of operations, Sacombank now has 560 branches in Viet Nam, Laos and Cambodia. — VNS

Comments (0)