The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has announced that it will allocate VND2 trillion ($96 million) to provide low-interest loans for business and consumption purposes.
A Vietcombank transaction counter.
The bank will offer loans with a 13 per cent annual interest rate for businesses to help them supplement their working capital.
Loans up to a maximum period of 12 months at 14 per cent interest will also be offered to customers to buy houses, build new houses and repair houses to live in or lease.
These preferential loans will be applied between May 21 and September 21, 2012, which is expected to help enterprises and individuals overcome their current financial difficulties.