Banks to create favourable conditions for people to access credit

21-Apr-2021 Intellasia | SGGP News | 5:02 AM Print This Post

According to the State Bank of Vietnam (SBV), so far, banks have restructured the repayment term for nearly 263,000 customers affected by the Covid-19 pandemic with a total credit outstanding balance of more than VND353 trillion.

Besides, they have also exempted and reduced interest rates for more than 660,000 customers with a total credit outstanding balance of over VND1.27 quadrillion. Credit institutions have provided new loans with lower interest rates than before the pandemic, with accumulated loans from January 23, 2020, to now exceeding VND3 quadrillion to more than 452,000 customers.

For the lending programme to employers to compensate for work stoppages, by January 31, 2021 (the time to stop disbursement as prescribed), SBV had disbursed a total of VND42.9 billion to the Vietnam Bank for Social Policies (VBSP), and this bank has provided loans in 56 provinces and cities, with a total credit outstanding balance of VND41.82 billion for 11,276 employees who were ceased work. Currently, the programme’s credit outstanding balance at the VBSP is VND39.66 billion.

SBV’s leader said that the central bank would continue to synchronously carry out solutions to remove difficulties for customers affected by the Covid-19 pandemic and solutions to remove credit problems for people and enterprises that suffered damages caused by natural disasters or the pandemic to restore production and business activities. At the same time, it would direct credit institutions to continue to create favourable conditions for people and enterprises to access credit, meet the legitimate credit needs of the people, and contribute to restricting black credit.

https://sggpnews.org.vn/business/banks-to-create-favourable-conditions-for-people-to-access-credit-91799.html

 

Category: Finance, Vietnam

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