SeABank to participate in Rural Development Finance III run by World Bank

SeABank has been chosen to participate in RDF3 with an initial credit line of 50.000.000.000 VND (Fifty billion VND). The credit line tenor is within 01 year since the date of contract signing and shall be increased, recycled subject to the loan efficiency of SeABank.

Signing ceremony of subsidiary loan agreements bettween BIDV with SeABank, Agribank and DaiABank

The scope of project implementation: Lending scope of sub-projects spreads all over the country, except for the areas of 04 cities: Hà Nội, Hải Phòng, Đà Nẵng and Hồ Chí Minh City.

RDF3 loans shall be granted to final borrowers being individuals/ households or small and medium-sized enterprises of the private business sector with the number of staff of fewer than 50 people. FDI enterprises must particularly meet the requirement to have at least 51% of ownership taken by Vietnamese people. Tenors for eligible sub-projects: no more than 12 months for short-term loans; no more than 15 years for medium and long-term loans.

Banks participating in projects financed by World Bank must fulfill a great deal of criteria so that financial institutions have enough reputation and power to join the projects. Among such, SeABank  is one of those fully meeting all criteria of strategy, management quality, asset quality, capital adequacy, liquidity, profitability and officially selected to implement this Project. The participation enables SeABank and final borrowers to be supplied with a preferential source of capital than the average capital expenditure in the market. Moreover, SeABank is accordingly certified by WB to be a powerful financial institution in Việt Nam.

Customers interested in the project as well as products and services of SeABank may dial the toll-free number 1800 555 587, access the website www.seabank.com.vn or visit the nearest output of SeABank for free advisory and support.