The circular, which took effect on April 24, aims to support those facing difficulties in business and production, as well as those facing difficulties in repaying the consumption loans.
Under the central bank’s circular, commercial banks are given the initiative to review and assess the difficulties of their customers, to decide on whether to restructure the loans.
The extended repayment term is up to credit institutions but does not exceed 12 months from the due date of the restructured debts.
According to the State Bank of Vietnam, the new circular will help remove difficulties for people and enterprises, thereby promoting economic growth in 2023 and the entire 2021-2025 period.
