Lenders have been trying to attract customers by pasting many of advertisements on the streets, in coffee shops or event public toilets.
Lending activities have been particularly slow recently. Not only banks and financial companies but also black market credit providers are also seeking to attract customers.
Pavements and electric poles are full of offers such as “Loans without collateral or proving financial capacity”
Many financial companies just require simple procedures for loans; for example monthly salary paystubs of more than VND4 million.
Loan adverts pasted on walls or even public toilets
Foreign financial firms also launch the ad campaigns promising easy loans at good rates
Despite appealing ads, many people are still not interested for fear of the risks that loans from sources such as the black market bring with them.