To support businesses’ recovery efforts after COVID-19, An Binh Commercial Joint Stock Bank is offering credit incentives to import-export companies.

Importers can get import trade finance of two times the collateral value, and the L/C issuance margin is only 0 - 10 per cent.

The bank also offers an additional limit of 30 per cent of collateral if it is a bank deposit or immovable products, L/C without collateral of up to 50 per cent of credit limit of having the collateral asset at the bank and import financing without collateral of up to 50 per cent of credit limit or borrower’s equity.

Export firms can get financing of up to 98 per cent of the value of an export contract/order, L/C or export documents.

Guarantee requirements are also very flexible for businesses.

Besides tangible collateral such as property, vehicles, machinery and equipment, and goods, receivables are also accepted if other conditions are met.

An ABBANK spokesperson said: “Reviving the import-export supply chain is one of the means to revive the economy after the pandemic. ABBANK offers preferential credit, attractive interest rates and timely financing for import-export businesses." — VNS