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The list of 50 banks and firms supporting customers affected by COVID-19

Wednesday 29, 04 2020
The State Bank of Vietnam has published the list of credit institutions participating in supporting customers affected by COVID-19.
The list of 50 banks and firms supporting customers affected by COVID-19

Accordingly, there are a total of 50 credit institutions in the list, including 43 banks (including domestic, joint-venture, and foreign banks, as well as foreign banks’ branches in Vietnam) and 7 financial and financial-leasing companies.

Domestic banks

Regarding domestic banks, there are Vietcombank, VietinBank, Agribank, BIDV, Co-opBank, MSB, Bac A Bank, ABBank, PGBank, SHB, TPBank, PvcomBank, HDBank, Eximbank, LienVietPostBank, ACB, Tecchombank, VIB, MB, OceanBank, OCB, Saigonbank, NCB, Kienlongbank, Viet A Bank, VPBank, SeABank, and SCB.

Joint-venture and foreign banks

Regarding joint-venture and foreign banks, there are Indovina Bank, Standard Chartered Vietnam, Shinhan Vietnam, Hong Leong Vietnam, Public Bank Vietnam, the Ho Chi Minh City branch of the Siam Commercial Bank, the Ho Chi Minh City branch of the Limited Liability Bangkok Public Bank, and the Ho Chi Minh branch of the Bank for Investment and Development of Cambodia.

Financial and financial leasing companies

The list of 50 banks and firms supporting customers affected by COVID-19

Regarding financial and financial-leasing companies, there are the Financial leasing of the Joint Stock Commercial Bank for Foreign Trade of Vietnam, Fe Credit, Vietnam International Financial Leasing, Chailease Financial Leasing, ACB Bank Financial Leasing, Sacombank Financial Leasing, and Mirae Asset Financial Company.

Previously as we have informed, since the epidemic happened, banks have continuously introduced measures to restructure and extend debt, as well as reduce interest rates for affected customers. Data from the State Bank shows that credit institutions have restructured debt and maintained the debt group for 166,544 customers, with a loan balance of 62,835 billion VND. They have also reduced and exempted interest rates, while maintained the debt group of 14,368 customers, with an outstanding debt of 12,319 billion VND. In addition, credit institutions have also lowered the existing outstanding loan interest rate to 289,204 customers, with a loan balance of 948,407 billion VND. The expected interest rate cut for customers is 3,530 billion VND. 146,571 customers will receive new loans with a preferential interest rate, with a loan turnover of 511,230 billion VND.

In addition, banks have also offered preferential credit packages with interest rates lower than 0.5 - 4.5% / year compared to pre-disease rates, totaling more than 650,000 billion VND.

​>> Vietnam’s banking industry affected by COVID-19

Source: https://cafef.vn/

Categories:
Banking & Finance

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