Bank borrowers benefit from new debt extension policy

15/09/2021 07:55 7

Bank borrowers benefit from new debt extension policy


HÀ NỘI — Borrowers will be the beneficiary of a newly-issued State Bank of Vietnam (SBV) circular on extending debt rescheduling as it helps them to keep cash flows stable, experts said.

The SBV last week issued Circular 14/2021/TT-NHNN, which revised Circular 03/2021/TT-NHNN, allowing banks to extend the repayment term for customers by another six months compared to Circular 03, until June 30, 2022.

VietinBank, for example, increased its provisions from 120 per cent in 2019 to 130 per cent of loans in 2020. In 2021, VietinBank aimed to keep the bad debt ratio below 2 per cent. — VNS

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