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Agribank to provide VND 250,000 billion in debt restructuring for customers

23/04/2020

Agribank has restructured debts, maintained the classified debt groups close to VND 30,000 billion for nearly 15,000 customers experiencing economic hardship due to negative impacts of COVID-19.

From May onwards, based on the effectiveness of COVID-19 prevention and control, the relaxing social distancing regulations, the implementation of support measures for customers (debt structure, interest reduction and exemption, new loans) implemented in more favorable conditions, and with the determination together with the banking industry and the political system to realize the Government's dual goal of both controlling the outbreak and ensuring socio-economic development, the projected loan balance that Agribank plans to provide in support for customers impacted by COVID-19 in the second and third quarter of 2020 is VND 250,000 billion.

From the beginning of the year to April 17, 2020, Agribank had restructured debts, maintained the classified debt groups close to VND 30,000 billion for nearly 15,000 customers experiencing temporary difficulties due to negative impacts of COVID-19.

Of the nearly VND 30,000 billion mentioned above, the debt group under Circular 01 kept at VND 20,906 billion with 4,733 customers; outstanding loan of interest rate exemption and reduction of VND 2,474 billion with 208 customers; outstanding loans with lowered interest rates of VND 26,066 billion with 21,360 customers. 

Currently, Agribank is continuing to conduct assessment of the COVID-19 pandemic’s impact on its customers and is working with customers to review and assess production and business plans, thereby providing appropriate advice and support.

Along with debt restructuring, Agribank is actively implementing a VND 100,000 billion loan package with preferential interest rates to support customers impacted by Covid-19 pandemic to help customers to resume production and stabilize business activities.

Loan volume as of January 23, 2020 have reached over VND 300,000 billion; in which, new loans provided to those customers affected by COVID-19 pandemic reached over VND 8,186 billion with 5,892 customers, contributing significantly to supporting those customers affected by COVID-19 in maintaining production and business activities.
 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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