Over 107,000 customers offered policy credit loans with reduced interest

(BGO) - On November 26, 2021, the Prime Minister issued Decision No.1990/QD-TTg about reducing loan interest for policy credit programme at the Social Policy Bank (SPB) with validity from October 1 till the end of December 31, 2021. Accordingly, SPB reduces 10 percent of the interest comparing to the loan interest for policy credit programmes regulated by the Prime Minister.

Implementing the above Decision, Bac Giang branch of SPB has reviewed and balanced the operational expense to reduce total loan interest of nearly 9.8 billion VND (debt balance of 5,403 billion VND) to more than 107,000 customers for two months.

Illustrative image.

The interest reduction aims to timely assist the customers of policy credit programme to reduce the expense for loan, recover the difficulties caused by Covid-19 pandemic and accelerate the production and business activities.

Banks reduce loan interest by over VND12.2 trillion for pandemic affected clients

A total lending interest reduction of over VND12.2 trillion (US$539 million) was conducted by 16 commercial banks between July 15 and September 30, 2021, to support customers affected by the Covid-19 pandemic.

 

Vietnam’s digital banking adoption catches up with developed markets

The adoption of digital banking in Asia-Pacific (APAC) emerging markets, especially Vietnam, has caught up with that in developed markets.

 

Vietnam’s central bank extends debt restructuring scope

The State Bank of Vietnam has extended the debt restructuring period for commercial banks in order to support their customers affected by the Covid-19 pandemic.

 

Military Bank donates 1 million N95 medical masks to Ministry of Health

The Ministry of Health on September 6 received 1 million N95 medical masks worth approximately VND40 billion (US$1.75 million) donated by the Military Commercial Joint Stock Bank to help protect frontline medical workers in the fight against Covid-19.

 

Banks continually cut lending rates to aid pandemic-affected customers

Commercial banks have continuously announced lending interest rate reductions to support and accompany customers to overcome the adverse impacts of the Covid-19 pandemic.