The International Finance Corporation (IFC) is providing $140 million in loans to VPBank and OCB to help the two banks support local businesses with disrupted cash flows sustain operations and maintain employment.
Some banks are speeding up the recovery of non-performing loans (NPLs) this year despite the impacts of the COVID-19 pandemic.
Banks, especially State-owned banks, are expected to increase their capital significantly this year as they are allowed to retain profits or pay dividend in shares instead of cash as previously.
Governor of the State Bank of Viet nam Le Minh Hung has called on commercial banks to urgently simplify lending procedures to help COVID-19-affected firms easily access preferential interest rate loans.
On March 31, 2020, the State Bank of Vietnam (SBV) issued Decision No. 542/QD-NHNN revising the charter capital of the Capital Aid for Employment of the Poor Microfinance Institution Ltd. (CEP).
Banks have warned customers about fraud during the Covid-19 pandemic, advising them not to open suspicious emails or click on dubious links sent as email attachments related to the outbreak.