Commercial banks asked to continue with measures to support virus-hit customers
ChandraGarran04 4-06-2021, 11:55
 
Commercial banks asked to continue with measures to support virus-hit customers
   

NDO - The State Bank of Vietnam (SBV) has asked credit institutions to continue implementing the measures aimed at removing difficulties for customers affected by the Covid-19 pandemic.


Specifically, banks should consider measures such as restructuring debt repayment, reducing interest rates, and providing new loans depending on their financial capacity.

Supportive interest rates and other measures should be made public to enterprises and the people, said the SBV in a directive issued on June 3.

In addition, the central bank urged commercial banks to maximise fee cuts in order to create financial resources to provide assistance to their customers.

At the same time, banks should proactively collaborate with local authorities and customers to learn about and promptly meet the demand for capital such that production and supply chains are not disrupted due to failure to access bank credit.

In its directive, the central bank also called for donations to the national vaccine fund and programmes aimed at supporting health workers and other forces on the Covid-19 frontline as well as residents in isolated areas.

In the provinces and cities under lockdown or social distancing, local SBV branches should direct banks to assess the damage caused by Covid-19 and work out specific measures to support affected customers.

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