The 15 percent cap on lending interest rates
the State Bank of Vietnam (SBV) imposed to aid four preferential sectors was
officially applied yesterday, but banks said they have yet to implement the
regulation as there are too many borrowers qualified for the low rate.
Borrowers
operating in the four sectors subject to the ceiling rate, including the
supporting industry, exporting and agriculture sectors, and small- and
medium-sized enterprises, are estimated to account for as much as 60 – 70
percent of banks’ total outstanding loans, they said.
Hence,
commercial banks said they will have to work together to develop a particular
requirement for businesses which are able to access loans at the ceiling rate.
“We
cannot let every business from the targeted sectors borrow at 15 percent a
year,” they said.
According
to a central bank circular, the maximum interest rate slapped on short-term
loans in Vietnamese dong will be equal to the maximum deposit interest rate as
required by SBV for terms from one month and above, plus3 percentage points a
year.
Banks
said the 3-percentage point gap between input and output interest rates is too
low, so they have to calculate carefully on the loans to offer.
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