The State Bank of Vietnam has instructed credit institutions and foreign bank branches, together with its regional branches in Areas 1, 3, 4, 5, 6, 7, 8 and 12, to urgently roll out customer support measures in response to damage caused by Typhoon No. 3 (Wipha) affecting Northern and North Central provinces since 19 July 2025. Credit institutions are required to proactively review impacted borrowers and apply measures under existing rules, including restructuring repayment schedules, considering interest waivers or reductions, and continuing to provide new loans to help restore production and business operations after the storm. Borrowers should also be guided to complete documentation for debt-handling measures where needed. Regional branches are to coordinate and direct local credit institutions to implement support and work with relevant local agencies to advise provincial and municipal People’s Committees on solutions for affected people and areas. Any issues beyond the competence of credit institutions are to be reported by the regional branches to the State Bank of Vietnam for consideration and handling.
State Bank of Vietnam 2025-07-25
State Bank of Vietnam directs banks to reschedule debts, consider interest relief and extend new lending for Typhoon Wipha-affected customers
The State Bank of Vietnam has directed credit institutions and foreign bank branches to implement urgent customer support measures following Typhoon No. 3 (Wipha) in Northern and North Central provinces. Institutions must review affected borrowers, restructure repayment schedules, consider interest waivers, and provide new loans. Regional branches are tasked with coordinating local efforts, advising provincial committees, and reporting unresolved issues to the State Bank.