Credit Institutions

The banking sector will continue providing support for its customers affected by the pandemic, including ongoing efforts to restructure debt payments and waive and cut interest rates.

Experts called for Vietnam to soon provide a legal framework for the securitization of bad debts.

Total capital mobilized by credit institutions in Hanoi this year is estimated to increase by 12.91% year-on-year and total outstanding loans at 9.58%.

While the banking has to continue its efforts to deal with bad debts, credit institutions are required to support the economic recovery efficiently, said Prime Minister Nguyen Xuan Phuc.

The circular lists cases that credit institutions are granted a reserve requirement waiver or a lower reserve requirement ratio.