Vietnam tells banks to cut or delay loan payments from virus-hit firms – c.bank

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HANOI, Feb 24 (Reuters) – Vietnam’s central bank ordered commercial banks on Monday to eliminate, cut or delay interest payments on loans to companies facing losses due to the coronavirus outbreak.

The move by State Bank of Vietnam (SBV) came as authorities stepped up measures to relieve pressure on the economy from a rapidly spreading virus outbreak.

“The order applies to all payments due Jan. 23 to March 30,” the SBV said on its website. “Commercial banks have to assess losses the companies are enduring since the outbreak and ensure to maintain creditworthiness for future loans,” it added.

The government said it would stick to this year’s economic growth target of 6.8% and take steps to ease the impact of the outbreak.

Reporting by Phuong Nguyen; Editing by Edmund Blair

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