HCM CITY (Biz Hub) - Ten banks in HCM City have signed credit contracts worth VND786 billion (US$35 million) with 44 domestic firms at preferential interest rates.
They include Agribank, Sacombank, Military Bank, DongA Bank and Asia Commercial Bank.
"This shows our determination to enable businesses to have access to funds at reasonable cost," Sacombank deputy general director Nguyen Minh Tam said.
His bank will lend VND100 billion (US$4.8 million) to 10 companies at 8 per cent interest.
Sacombank has earmarked another VND200 billion for the city's market stabilisation programme during Tet (Lunar New Year) in early 2014 at interest rates that could be as low as 6 per cent. —VNS