September 08, 2023 | 15:40 GMT+7

OCB receives $55mln loan to support SMEs.

Giang Hoang -

Half of loan from German lender to go to women-led SMEs.

Photo: VnEconomy
Photo: VnEconomy

The Orient Commercial Bank (OCB) has recently received a loan of $55 million from the German Investment and Development Company (DEG), a subsidiary of the KfW Development Bank.

The five-year loan aims to help OCB’s small and medium-sized enterprise (SME) customers, with a minimum of 50 per cent of the loan to be allocated to those led by women. This initiative is intended to promote greater participation by women in business, thereby enhancing productivity and improving the quality of life for families in Vietnam.

“We have identified SMEs as a crucial customer group for OCB, and as such the bank has been implementing a series of cooperative solutions, such as reducing interest rates, creating special product packages, and waiving fees,” a representative from OCB said. “With additional support from DEG, we are confident that we will improve conditions and streamline procedures, making it easier for SMEs, especially those led by women, to access bank funding.”

In the context of global economic warning signs about a potential recession and volatile international capital markets, DEG’s loan reaffirms OCB’s credibility and trustworthiness. It has also demonstrated its capabilities through rigorous adherence to financial health indicators related to capital safety, asset quality, and liquidity.

With a robust, modern, safe, transparent, and efficient risk management framework, OCB has continually earned the trust and partnership of major financial institutions worldwide.

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