SBV urges lenders not to ease credit conditions | Business

A bank teller counts money at a branch of Bao Viet Bank. (Photo: VNA)

Hanoi (VNA) – The State Bank of Vietnam (SBV) urged lenders not to let up credit approval terms but exercise stricter control over foreign currency loan and lending in high-risk sectors.

The central bank has encouraged creditors to cut costs further to reduce interest rates on loans and to prioritize loans for government-defined priority areas of production and activity.

He said he would deploy flexible monetary policies that will be closely integrated with fiscal and other macro-economic policies to spur economic recovery. It will also pay particular attention to controlling inflation and stabilizing the macroeconomy.

the SBV also called on banks to accelerate digital transformation, modernize their payment and operating systems and promote the use of contactless transactions, given that the pandemic is likely to persist and the technology is considered essential for drive economic growth in the “new normal”. ”.

The bank has asked lenders to take better measures to restructure and manage bad debts to ensure banking security, following the recently approved project on the restructuring of credit institutions and non-performing loans from 2021 to 2025./.

Phạm Lê Khánh Ly source

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