Outstanding loans in Vietnam exceeded VND8.79 quadrillion (US$378.74 billion) as of November 17, an increase of 7.26% from the end of 2019, according to the State Bank of Vietnam (SBV).

Under its Circular No 01/2020, lenders had restructured repayment deadlines for loans worth over VND341.85 trillion as of November 9, taken out by nearly 270,200 borrowers affected by COVID-19.

Interest rates have been waived and reduced for over 552,700 borrowers with total outstanding loans of more than VND931 trillion.

More than VND2.017 quadrillion worth of new loans has been provided to close to 356,400 customers since January 23, the central bank said.

The SBV has requested local credit institutions urgently compile records of borrowers hit by flooding in the central and Central Highlands regions during October and November, in order to help them overcome any financial difficulties.