Interest rate cut not as expected

Interest rate cut not as expected

Many commercial banks have announced a 0.5-3 percent cut in lending interest rates and many policies to support customers affected by the Covid-19 pandemic. However, feedback from individual customers in Ho Chi Minh City shows that banks have refused to aid them, even when they are in blocked areas and need priority.
More than VND3.5 quadrillion of loans given with low-interest rates

More than VND3.5 quadrillion of loans given with low-interest rates

The State Bank of Vietnam (SBV) said that to support people and businesses affected by the Covid-19 pandemic, credit institutions have provided new loans with lower interest rates than before the pandemic, with an accumulated loan outstanding balance from January 23, 2020, to now exceeded VND3.5 quadrillion.