Vietnam posts 7.26% credit growth so far in 2020

  • Outstanding loans in Vietnam exceeded VND8,790tr (USD378.74bn) as of 17 Nov 20, an increase of 7.26% ytd, according to the State Bank of Vietnam (SBV).
  • Under its Circular No 01/2020, lenders had restructured repayment deadlines for loans worth over VND341.85tr as of 9 Nov 20, taken out by nearly 270,200 borrowers affected by COVID-19.
  • Interest rates have been waived and reduced for over 552,700 borrowers with total outstanding loans of more than VND931tr.
  • The SBV has requested local credit institutions urgently compile records of borrowers hit by flooding in the central and Central Highlands regions during Oct 20 and Nov 20, in order to help them overcome any financial difficulties.

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