Coronavirus affects nearly $40 billion outstanding loans in Vietnam’s banks

The affected debts accounted for more than 14% of the banks’ total outstanding loans and about 11,3% of the total outstanding loans of the Vietnamese banking system, said Nguyen Quoc Hung, director of the central bank’s Credit Department.

Enterprises belong to sectors including agriculture, forestry and fisheries, import and export, food and beverages, transportation, textiles, footwear, electronics, refrigeration, tourism, education have been seriously affected by the epidemic.

The credit institutions have supported over 44,000 customers with a total loans of about $9.5 billion by rescheduling debt payment, exemption or reducing interest rates on existing debts, exempting and reducing fees.

Speaking at the meeting, Deputy Governor of the State Bank of Vietnam Dao Minh Tu praised 20 banks for actively deploying solutions to help businesses to overcome difficulties.

These actions showed the responsibility of the banking sector to the business community, he said.

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