Reduce interest rates on stable loans to reduce prices of goods during Tet

SGGP 11/08/2023 06:40

On November 7, Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Ho Chi Minh City branch, said that in order to best meet the demand for credit capital and support economic growth in Ho Chi Minh City, in the last months of 2023, the Ho Chi Minh City banking sector will continue to implement interest rate policies, focusing on solutions to maintain support to help businesses overcome difficulties.

In addition to strengthening the connection between banks and enterprises, the State Bank of Vietnam, Ho Chi Minh City branch, has directed credit institutions in the area to expand credit and reduce lending interest rates for businesses to help them reduce prices during the year-end consumption season and the 2024 Lunar New Year.

As of the end of September 2023, the cumulative loan turnover of the market stabilization loan program from the beginning of 2023 reached VND 10,477 billion for stabilization enterprises and enterprises in the supply chain.

* According to the Vietnam Securities Depository (VSD), in October 2023, domestic individual investors closed 545,326 securities accounts. The number of investor trading accounts decreased from 7.8 million accounts at the end of September to 7.45 million accounts by the end of October.

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