Vingroup raises $400 mln loan from global banks

Vingroup has secured a $400-million loan from international lenders to fund ‘green’ and sustainable development of its auto unit VinFast and other subsidiaries.

The lenders who arranged the funding were BNP Paribas, Cathay United Bank, Credit Suisse, HSBC, Maybank, and Taipei Fubon, it said in a statement.

A VinFast electric bus is seen in Hanoi, December 2, 2021.

Nguyen Viet Quang, deputy chairman and CEO of the conglomerate, said the loan indicates the trust international lenders have in Vingroup and its commitment to sustainable development.

Vingroup’s tourism and resort unit Vinpearl had in September issued $425 million worth of bonds.

Vingroup, Vietnam's biggest listed company, has recently announced plans to raise $1.5 billion through the issue of international bonds next year to boost capital for its automobile unit.

Vietnam’s digital banking adoption catches up with developed markets

The adoption of digital banking in Asia-Pacific (APAC) emerging markets, especially Vietnam, has caught up with that in developed markets.

 

Vietnam’s central bank extends debt restructuring scope

The State Bank of Vietnam has extended the debt restructuring period for commercial banks in order to support their customers affected by the Covid-19 pandemic.

 

Military Bank donates 1 million N95 medical masks to Ministry of Health

The Ministry of Health on September 6 received 1 million N95 medical masks worth approximately VND40 billion (US$1.75 million) donated by the Military Commercial Joint Stock Bank to help protect frontline medical workers in the fight against Covid-19.

 

Banks continually cut lending rates to aid pandemic-affected customers

Commercial banks have continuously announced lending interest rate reductions to support and accompany customers to overcome the adverse impacts of the Covid-19 pandemic.

 

Source: VnExpress