Vietinbank lends $14.6m to Ha Giang hydropower project Inbox

tohang

The Viet Nam Bank for Industry and Trade (VietinBank) has signed a credit agreement with Western Limited Company for the construction of the Nam Ma I hydropower project in the northern province of Ha Giang.

The signing ceremony between Vietinbank and Western Limited Company. The bank will provide a loan worth VND325 billion for Wetern Co.lltd to develop the Nam Ma I hydropower project. - Photo vietinbank.vn

HA GIANG (VNS) – The Viet Nam Bank for Industry and Trade (VietinBank) has signed a credit agreement with Western Limited Company for the construction of the Nam Ma I hydropower project in the northern province of Ha Giang.

Under the agreement, the project developed by Mien Tay Ltd. will receive a credit package of VND325 billion ($14.55 million) from VietinBank.

The 18MW project, located in Tung Ba Commune of Vi Xuyen District, has garnered funding totaling more than VND500 billion . The project was inaugurated in late of 2015 and will be finished at the end of 2017.

Speaking at the signing ceremony, Western Limited Company Director Nguyen Van Thang pledged to use the loans wisely and allocate all resources to develop the project on schedule.

Director of Vietinbank Ha Giang Vu Quang Lam committed to providing full credit for the project and creating the most favourable conditions for implementing the project.

The company operates in the fields of construction, production and electricity distribution.

As of the third quarter of 2015, Vietinbank reach VNÐ10.97 billion of revenue and VND1.86 trillion of profit before tax. — VNS

  • Share:

see also

Lending interest rates this year reduced by 0.44 pp compared to 2023

Lending interest rates this year reduced by 0.44 pp compared to 2023

According to SBV’s Governor Nguyễn Thị Hồng, credit growth has d strong momentum for the economy to recover and develop as it continues to face challenges.
Many banks increase deposit interest rates in the year-end period

Many banks increase deposit interest rates in the year-end period

In early December, savings interest rates diverged, with some banks raising rates to attract capital, while others lowered them to cut costs, a trend experts predict will intensify.
Five banks qualify for year-end credit expansion

Five banks qualify for year-end credit expansion

Five banks, including Vietinbank, ACB, VIB, Techcombank and MSB, have qualified for the credit room expansion in the last time of this year
Banks face difficulties in balancing capital raising and lending

Banks face difficulties in balancing capital raising and lending

Banks use charter capital to cover shortages as lending exceeds capital raising, but experts warn this gap risks higher interest rates and banking system instability.
Việt Nam International Bank becomes Việt Nams first bank to offer AWS-powered Gen AI on mobile banking

Việt Nam International Bank becomes Việt Nam’s first bank to offer AWS-powered Gen AI on mobile banking

Việt Nam International Bank (VIB), one of the leading retail banks, announced it is transforming the user experience on its MyVIB digital banking platform with the launch of the new ViePro generative artificial intelligence (Generative AI)-powered assistant.