Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has asked commercial banks to promptly to support customers affected by COVID-19.

Illustrative image (Photo: VNA)

Speaking at a recent working session with representatives of Agribank, VietinBank, Vietcombank and BIDV, Tu urged the banks to put forth their own scenarios to combat the disease.

The entire banking sector needs to accompany businesses to overcome difficulties, he said, ordering the four commercial banks to demonstrate their role in driving the market and implement policies regarding debt restructuring and extension.

While assessing losses caused by the epidemic to customers, attention should be paid to “hot” spheres and prioritized sectors regarding exports, production and distribution, especially essential goods and social welfare.

Product packages and incentives like interest rate cuts must be announced publicly, Tu said.

Tiet Van Thanh, General Director of Agribank, said the bank has issued documents and set up a steering board for COVID-19 prevention and control, along with a three-level scenario to counter the epidemic.

Apart from establishing a steering board and working groups in charge of fighting COVID-19, VietcomBank has also offered product packages to assist clients impacted by the disease, according to General Director Pham Quang Dung.

Nguyen Quoc Hung, Director of the SBV’s Credit Department, pointed out that the epidemic has hampered the operation of businesses, thus affecting debt collection.

He stressed the need for banks to continue supervising the performance of organisations, enterprises and other customers.