Oceanbank cuts lending rates to support exporters

Oceanbank cut dollar and dong lending interest rates from March, 2011 to support exporters who committed to sell back dollar income to the bank.

According to the local newswire Dvt.vn, Oceanbank cut dollar lending interest to 3.5 per cent p.a. while the bank lowers lending interest rates for the dong by 1-2% p.a. compared with normal ones.

The bank also provides overdrafts with the credit limit of VND5billion or US$240,000 to help these exporters raise working capital for production.