SBV urges banks to aid storm and flood victims

SBV urges banks to aid storm and flood victims

The SBV requires credit institutions and SBV’s branches in the affected regions to proactively review and evaluate the status of the customers to take incentive policies.

Headquarters of the State Bank of Vietnam. — Photo sbv.gov.vn

The State Bank of Vietnam (SBV) has called on credit institutions and its own branches to take urgent measures to support borrowers affected by the recent storm and floods.

In Official Letter No. 8622/NHNN-TD, sent to credit institutions, foreign bank branches and SBV branches in the affected regions, the central bank said that from September 27-30, 2025, Typhoon Bualoi and subsequent floods caused significant damage to people and property, seriously affecting lives and livelihoods in northern and north central provinces.

To help customers overcome difficulties and restore production and business, the SBV has instructed credit institutions and its branches to review and assess the situation of borrowers and implement incentive policies. These include restructuring debt repayment schedules, considering loan interest exemptions or reductions, providing new loans for post-storm recovery in line with regulations and handling debts for customers who have suffered loan losses.

Banks are also required to guide borrowers through completing documents and implementing debt handling measures according to existing rules. SBV leaders have urged chairmen of boards of directors and general directors of credit institutions in affected areas to act on the instructions immediately.

In response to the call of the Central Committee of the Vietnam Fatherland Front, the SBV held a launch ceremony on October 6 to support affected compatriots in overcoming the damage caused by the storm.

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