29 C
Ho Chi Minh City
Sunday, July 21, 2024

IFC pours US$100 million into SeABank

The Saigon Times

Must read

HCMC – International Finance Corporation (IFC) has injected US$100 million into SeABank, which trades its shares on the Hochiminh Stock Exchange under the code SSB, to boost home loans.

The financing package is aimed at helping the bank raise its liquidity and make loans accessible to home-buyers with low and medium income, the local media reported.

The home demand of low- and medium-income households in Vietnam is high, but their access to real estate loans is tough, said Le Thu Thuy, vice chairwoman of SeABank. She added that the support from IFC will help the lender maintain liquidity and stabilize its portfolio of real estate loans. As such, more low- and medium-income earners can access home loans.

With this financing package, SeABank is set to at least double loans for low- and medium-income earners in 2026.

SeABank had earlier mobilized some US$500 million from IFC, U.S. International Development Finance Corporation and other international investment funds to bolster access to loans for small and medium enterprises.

SSB closed the session today, February 9, at the reference price, ending its three-session winning streak.

On the southern bourse, the VN-Index slid 8.19 points, or 0.76%, from the session earlier, at 1,064.03, with 178 gainers and 217 losers. Over 473 million shares worth VND9.2 trillion changed hands, down 17% in volume and 8% in value against the previous session.

Many large-cap stocks lost, dragging the index.

Budget airline VJC dipped 5.6% at the close, while real estate firms VHM and PDR and lender STB tumbled over 2%.

Bank stock STB took the lead by liquidity on bourse with 37.3 million shares changing hands.

The HNX-Index of the Hanoi exchange continued its upward spiral, gaining 0.3 points, or 0.14%, from the previous session, at 210.91, with 87 advancers and 67 decliners.

Many oil and gas stocks ended the day up, with PVS reporting the highest matching volume on bourse at 8.7 million shares.

More articles


Please enter your comment!
Please enter your name here

Latest articles