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Saturday, July 13, 2024

SBV extends debt restructuring policy till year-end

By Nguyen Tan

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HCMC – The State Bank of Vietnam (SBV) has announced a six-month extension of its debt restructuring policy, keeping debt classifications unchanged until the end of this year, instead of expiring on June 30.

Circular 06/2024/TT-NHNN, introduced on June 18, revises and supplements Circular 02/2023/TT-NHNN on debt restructuring and debt classifications. This extension aims to support clients facing financial difficulties.

The SBV’s extension of the policy on debt restructuring and debt classifications outlined in Circular 02 will remain in force until December 31, 2024.

The central bank has told credit institutions to swiftly support clients in overcoming obstacles during the execution of Circular 06.

As of June 14, 2024, credit had expanded by 3.79% against the end of 2023, showed SBV data. The credit growth rate has been improving over the months, with a higher volume of credit supplied to the economy in the first six months of this year compared to the previous three years.

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