Banks asked to cut lending rates for central region
The State Bank of Vietnam has asked local banks to reduce lending rates for customers in the central region to help them settle down their lives after the floods.
From October 6 to 21, heavy rain and flooding in the central region and the Central Highlands have resulted in severe flooding and landslides. Many people died and houses destroyed in the flood and landslides. The situation will continue in the coming weeks.
In order to support local people, the State Bank of Vietnam has issued the orders banks to review the damage caused to their customers and have suitable support policies like extending the deadlines or reducing lending rates.
The branches of the State Bank of Vietnam across Vietnam must update the information about the weather and flooding to review the outstanding loans that are damaged by flooding and landslides.
Credit institutions must tighten measures to protect both their assets and personnel. The banks should report back the results of the implementation and support services. They will later submit detailed reports about outstanding loans and the number of affected customers, the number of customers they supported and the implemented solutions.
Flooding in the central region
From October 6 to 21, heavy rain and flooding in the central region and the Central Highlands have resulted in severe flooding and landslides. Many people died and houses destroyed in the flood and landslides. The situation will continue in the coming weeks.
In order to support local people, the State Bank of Vietnam has issued the orders banks to review the damage caused to their customers and have suitable support policies like extending the deadlines or reducing lending rates.
The branches of the State Bank of Vietnam across Vietnam must update the information about the weather and flooding to review the outstanding loans that are damaged by flooding and landslides.
Credit institutions must tighten measures to protect both their assets and personnel. The banks should report back the results of the implementation and support services. They will later submit detailed reports about outstanding loans and the number of affected customers, the number of customers they supported and the implemented solutions.
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