SSI gets $85m unsecured loan from foreign banks

Wednesday, Dec 16, 2020 17:26

SSI Securities Corporation has received an unsecured loan worth US$85 million from a group of nine foreign lenders led by Union Bank of Taiwan. — Photo courtesy of the company

SSI Securities Corporation has signed an unsecured loan contract worth US$85 million with a consortium of nine foreign banks led by Union Bank of Taiwan, the island’s largest lender.

The loan has a maximum term of 12 months with short-term interest rates as is common in the international market.

SSI said it would use the money for securities trading services and trading valuable papers to enhance its competitiveness in the market, margin lending at low interest rates, and maximising profits from assets with acceptable risk.

This is the largest unsecured loan provided by foreign banks to any securities companies in Viet Nam.

Previously SSI has got a loan of $55 million from a group led by Taiwan’s SinoPac Bank.

The largest securities company in Viet Nam has a charter capital of VND6.02 trillion ($260.15 million) and total assets of VND26.9 trillion ($1.16 billion). — VNS

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