Bac Ninh Province meets business needs for year-end loans

Many credit institutions in Bac Ninh Province have launched new credit packages with preferential interest rates

According to the State Bank of Vietnam’s Bac Ninh Branch, by early November 2024, outstanding loans for priority programs and sectors reached VND165.79 trillion. This included VND70.682 trillion worth of loans for the bank-business connection program; VND45,989 trillion for agriculture and rural development; and VND22.687 trillion for small- and medium-sized enterprises.

To meet the increased capital needs for year-end production and business activities and for the Lunar New Year, many credit institutions in the province have launched preferential loan packages and reduced interest rates. This aims to support people and businesses in boosting production and consumption, thereby driving the banking sector’s credit growth.

Currently, interest rates for some priority sectors are maintained at 4.0 percent per year. For other sectors, short-term interest rates range from 5-10.5 percent per year, while medium- and long-term rates range from 6.5-13.5 percent per year.

Compared to the end of 2023, interest rates for loans to businesses have decreased by 0.5-5.0 percent per year across various terms, and by 0.5-6.0 percent per year compared to June 19, 2023.

Credit institutions in Bac Ninh Province have taken various measures to support businesses and residents in overcoming the consequences of Typhoon Yagi and stabilizing production and business activities. These include interest exemptions and reductions for both existing and new loans.