VietinBank has nearly VND289,000 billion in outstanding loans affected by COVID-19

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By the end of August 2020, VietinBank identified 9,614 customers affected by the COVID-19 translation with a outstanding balance of VND288,708 billion. In which, the bank has implemented the debt structure to keep the debt group intact for 1,583 customers with customer debt balance of 65,733 billion dong.

VietinBank có gần 289.000 tỉ đồng dư nợ bị ảnh hưởng bởi COVID-19 - Ảnh 1.

At the meeting with the Standing Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu took place on September 25, the leaders of VietinBank said that by the end of August 2020, the bank identified 9,614 customers affected by the COVID-19 epidemic (both phase 1 and phase 2) with outstanding loans of VND288,708 billion, focusing on industries such as accommodation, catering, tourism, transportation, BOT, petroleum; Agriculture / fishery products, textiles, furniture, footwear; Consumer goods…

VietinBank has implemented the debt structure to keep the debt group for 1,583 customers with customer debt balance of 65,733 billion dong, the restructuring amount according to Circular 01/2020 is 9,006 billion dong.

VietinBank có gần 289.000 tỉ đồng dư nợ bị ảnh hưởng bởi COVID-19 - Ảnh 2.

Mr. Le Duc Tho, Chairman of Vietinbank, presented his report at the meeting. (Source: VietinBank)

According to Mr. Le Duc Tho, Chairman of the Board of Directors of Vietinbank, over the past time, the bank has reformed its lending procedures and service provision towards simplifying, improving labor productivity, and saving time for processing lakes while ensuring good control of risks.

The Bank regularly reviews and evaluates credit granting regulations and processes to ensure compliance with the business model, improving labor productivity, and minimizing processing time. Actively reviewing and repeatedly adjusting all types of bank fees, reducing toll codes for customers, many fees have been adjusted to reduce or cut to ensure the best support for customers.

Before that, at the press conference on the results of operating monetary policy in the third quarter and the plans for the last months of the year, the State Bank said that the total outstanding loans affected by the COVID-19 translation of the whole system was more than 2.27 million billion VND, accounting for about 25% of total outstanding loans.

As of September 14, 2020, credit institutions have rescheduled the repayment terms for more than 271 thousand customers with a loan balance of VND 321 trillion; exemption, reduction, and lowering of interest rates for nearly 485 thousand customers with outstanding debt of 1.18 million billion; especially credit institutions have provided new loans with preferential interest rates (popularly 0.5 – 2.5% lower than before translation) with accumulated sales from January 23 to now reaching 1.6 million VND for 310 thousand customers.

Source: vietnambiz.vn – Translated by fintel.vn