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Mr. Dang Thanh Tinh
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by Press Department, Vietnam Ministry of Culture and Information.
Orient Commercial Bank last week issued VND1 trillion (US$550 million) in dong-denominated bank notes to local and foreign investors in Vietnam.
The notes, of three, six and nine month maturity would offer high interest rates to individual and corporate holders, the joint stock bank said in a statement.
The HCMC-based bank said the interest rate was 9.99 percent a year compared to its current highest rate of 9.8 percent for a 36-month fixed deposit. The lowest rate was 7.8 percent per year for a one-week deposit with the bank.
The minimum face value of the notes is VND1 million for individual buyers and VND50 million for corporate investors. There are no limits on the number of notes that a client can purchase. The issue is expected to complete by the end of the year.
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