The State Bank of Vietnam (SBV) on April 23 issued Circular No. 02/2023/TT-NHNN stipulating the restructuring of repayment terms and keeping the debt group of credit institutions and foreign bank branches unchanged.
The rescheduling of debt repayment terms for customers is implemented from the effective date of this circular, starting from April 24 to the end of June 30, 2024.
Restructured debts include loans and financial leases.
SBV authorised credit institutions and foreign bank branches to take the initiative in reviewing and assessing the difficulties of borrowers to decide on the restructuring.
The rescheduled terms shall be decided by credit institutions but not exceed 12 months from the due date of the balances subject to the restructured repayment term.
The just-issued circular, along with other supportive policies, will contribute to removing difficulties for people and businesses, extending the lending period, repaying bank loans, and creating conditions for continued capital turnover and access to new loans./.
Source: VNA