Techcombank posted a record pre-tax profit of more than VND10.6 trillion (around US$457 million) in 2018, representing a 31 per cent year-on-year increase.
Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank), the sole mortgage provider for the Kingdom 101 apartment project in HCM City’s District 10, is offering buyers loans at low interest rates.
The Vietnam International Bank (VIB) has issued certificates of deposit (CD) in Vietnamese dong with attractive interest rates up to 8.7 per cent per year.
As the sole mortgage provider for the Mon Bay project in Quang Ninh, the Housing Development Commercial Joint Stock Bank (HDBank) has set aside VND2.73 trillion (US$119.7 million) for people to buy apartments and houses there.
Taking out mortgages for property projects is a normal practice among
developers, and laws would protect the interests of buyers who have
bought mortgaged property products, according to experts.
Recently the Ho Chi Minh City Department of Natural Resources and
Environment published a list of 77 apartment projects that have been
registered as mortgaged at land registration offices.
Low-income buyers will be allowed to mortgage their new houses or
apartments to access loans from the VND30 trillion (US$1.3 billion)
housing stimulus package.