Từ khóa: #debt rescheduling

Given the challenging economic environment, the performance of numerous banks is rather bleak, particularly due to the mounting bad debt levels.

Many commercial banks have announced a 0.5-3 percent cut in lending interest rates and many policies to support customers affected by the Covid-19 pandemic. However, feedback from individual customers in Ho Chi Minh City shows that banks have refused to aid them, even when they are in blocked areas and need priority.

The State Bank of Vietnam (SBV) said that to support people and businesses affected by the Covid-19 pandemic, credit institutions have provided new loans with lower interest rates than before the pandemic, with an accumulated loan outstanding balance from January 23, 2020, to now exceeded VND3.5 quadrillion.

To promptly remove difficulties for transportation businesses amid the complicated and unprecedented Covid-19 pandemic situation, the Ho Chi Minh City Department of Transport suggested that the People’s Committee of Ho Chi Minh City propose the State Bank of Vietnam to direct commercial banks on considering interest rate reduction and debt rescheduling for transport vehicles investment loans.

According to the State Bank of Vietnam – Ho Chi Minh City Branch (SBV-HCMC), the credit growth in the city was at 8 percent last year.

The results of the survey on the business situation of enterprises in August this year by the Ho Chi Minh City Union of Business Association show that 40 percent of enterprises said that there are still many difficulties in recovering production and business activities after the Covid- 19 pandemic, 44 percent still face difficulties, 9 percent have started to overcome difficulties, and 5 percent have returned to a normal operational state.