Recently, the State Bank of Vietnam (SBV) issued Official Dispatch No. 8622/NHNN-TD to credit institutions, branches of foreign banks in Vietnam, and SBV branches in various regions, requesting the prompt implementation of measures to support people affected by Typhoon No. 10 (Bualoi) and the subsequent floods.
The document states that from September 27 to 30, 2025, Typhoon No. 10 made landfall in Vietnam with extremely strong winds, a wide impact range, and a long duration, accompanied by heavy and prolonged rainfall across a large area. The storm caused severe devastation, significant losses in both life and property, and greatly affected the lives and production activities of people in the northern and north-central provinces. In order to promptly assist affected customers in overcoming difficulties and restoring production and business activities, the SBV requests credit institutions, branches of foreign banks (collectively referred to as credit institutions), and SBV branches in regions (1, 3, 4, 5, 6, 7, 8, 9, 11, and 12) to implement several specific measures.
Typhoon No. 10 swept through the Nghe An – Ha Tinh area, causing severe damage
For credit institutions, the SBV has requested that branches and transaction offices proactively review and assess the situation of their existing borrowers in order to promptly implement support measures and ease customers’ financial difficulties. These measures include: restructuring debt repayment terms, considering interest rate exemptions or reductions, providing new loans to restore business and production after the typhoon in accordance with current regulations, and handling loan-related losses in line with Government Decree No. 55/2015/ND-CP dated June 9, 2015 on credit policies for agricultural and rural development, as amended and supplemented by Decree No. 116/2018/ND-CP and Decree No. 156/2025/ND-CP; as well as Prime Minister’s Decision No. 50/2010/QD-TTg dated July 28, 2010 on the mechanism for handling risky loans at the Vietnam Bank for Social Policies, amended and supplemented by Decision No. 08/2021/QD-TTg.
In addition, credit institutions are instructed to guide their borrowers in completing necessary documentation to implement debt-handling measures as prescribed (if applicable).
The SBV leadership has directed its regional branches to take the lead in coordinating and instructing local credit institutions to promptly deploy customer support activities, contributing to overcoming the damage caused by Typhoon No. 10. At the same time, SBV regional branches are to coordinate with relevant departments and local authorities to advise provincial and municipal People’s Committees on solutions to assist affected residents and areas.
Chairpersons of the Boards of Directors/Members’ Councils, General Directors of credit institutions, and Directors of SBV regional branches mentioned above are required to urgently carry out the tasks outlined in the official dispatch. During implementation, any difficulties or issues beyond their authority must be promptly reported to the SBV for review and resolution.
The Banking Times
