Seizing the opportunity to grow its loan portfolio from the positive recovery of the real estate market, TPBank continuously lowered interest rates for home loans, "opening the door" to providing capital for potential projects.
According to the Vietnam Real Estate Market Report for the second quarter and the first 6 months of 2024 by the Vietnam Association of Realtors (VARS), the Vietnamese real estate market in the first 6 months of 2024 is still closely following the recovery process with some outstanding "phenomena": many new housing projects are opened for sale, with good transaction results of over 70%... Grasping the market trend and in order to promote the demand for home loans, since the beginning of the year, Tien Phong Commercial Joint Stock Bank (TPBank, MCK: TPB) has continuously updated attractive home loan incentive policies. Accordingly, people who want to buy land, project houses; build or repair houses; borrow to repay other banks can refer to the 3-month preferential loan package with an interest rate of only 0%/year fixed in the first 3 months, 8.2% fixed in the next 9 months, and a margin of 3.6%/year in the next period.
Understanding the fear of unusually fluctuating interest rates that make it difficult for borrowers to control their debt, TPBank also offers a series of loan packages with long-term fixed preferential interest rates such as: 6.8%/year fixed for the first 12 months; 7.3%/year fixed for the first 18 months; 7.8%/year fixed for the first 24 months; 8.8%/year fixed for the first 36 months. These attractive interest rate incentives are applied from now until the end of February next year. In particular, TPBank also reduces the fixed interest rate by 0.2% according to the Premium preferential policy for: all existing customers at TPBank who need to borrow to buy a new house, customers who are business owners or business owners, customers who are TPBank premium customer members, customers with a loan rate of up to 65% of the property value appraised by TPBank. For Premium Customer Members, TPBank offers a loan package of 200 billion VND with an interest rate incentive that can be deeply reduced by 1.3%/year in the first 12 months compared to the previous program, down to only 5.5%/year fixed in the first 12 months, the margin for the next period is 3.3%/year. Not only actively reducing interest rates for individual customers, TPBank is also active in the market with large capital funding programs. Recently, the bank signed a cooperation agreement to finance the first phase of 130 billion VND, ensuring the cost of land fund development for the Le Thanh Tan Kien Social Housing Project invested by Le Thanh Construction - Trading Company Limited. "The decision to accompany Le Thanh Company in this potential social housing project demonstrates TPBank's active participation in implementing the 125,000 billion VND Social Housing Loan Program according to the policy of the Government and the State Bank. TPBank is committed to accompanying businesses and people, contributing to unblocking credit flows, removing difficulties for the real estate market in general and the social housing segment in particular," said a TPBank representative. According to the latest report of Pyn Elite Fund, the recovery of the real estate market has promoted housing project financing activities. With preferential interest rate policies launched in line with the recovery of the real estate market, TPBank has seized the opportunity, creating the basis for achieving the target of increasing the loan portfolio by 18% this year. TPBank expects to achieve the full-year profit target of more than 34% over the same period, with an expected profit growth of 75% in the second half of 2024, thanks to lower provisioning pressure.Le Thanh
Source: https://vietnamnet.vn/tpbank-don-song-phuc-hoi-cua-thi-truong-bat-dong-san-2320569.html
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